2 bedroom apartment for saleSunningdale, Grantham
Guide Price £400,000
- Investment Opportunity
- 5 x 1 & 2 Bed Apartments
- Sunningdale Development
- 6% plus Yield available
- Inc. Parking & Communal Areas
- Highly Desirable & Lettable
- Call Gavin on 01476 591900
- EPC Ratings - All D
Located upon Sunningdale is this modern development of apartments that has become available and would represent a fantastic opportunity to return yields of 6% or more (subject to rent reviews etc). The FIVE APARTMENTS are split into 3 of 2 Bedroom layout and 2 of 1 Bedroom layout. All apartments have parking rights on the adjacent parking area, and communal areas for waste etc. The development has been well managed and owned since its conception in 2008 and has a full occupancy on Assured Shorthold Tenancies, the most recent to move in has been there over 14 months indicating that its a great place to live and a great place to own as a rental opportunity. Call Gavin at Newton Fallowell for more information.
Current Rental Incomes - Apartment 1 - ?350.00 - tenancy began 2/3/12 - could be increased potentially on a formal rent review to ?375 Apartment 2 - ?425.00 - tenancy began 30/9/14 - could be increased potentially on a formal rent review to ?450 Apartment 3 - ?450.00 - tenancy began 19/6/15 - could be increased potentially on a formal rent review to ?475 Apartment 4 - ?325.00 - tenancy began 31/3/12 - could be increased potentially on a formal rent review to ?375 Apartment 5 - ?440.00 - tenancy began 7/11/12 - could be increased potentially on a formal rent review to ?475
Apartment Square Footages - Apartment 1 - 422 sq feet - 1 Bed Apartment 2 - 717 sq feet - 2 Bed Apartment 3 - 717 sq feet - 2 Bed Apartment 4 - 422 sq feet - 1 Bed Apartment 5 - 606 sq feet - 2 Bed
Ownership Costs - Taken over the last 2 Years, these costs are typically as follows: Maintenance of exterior / cleaning & weeding of car park and landscaped areas: ? 600 Landlord?s Electricity supply (car park lighting ? 650 Buildings Insurance ?1,750 Total ?2,850 Allowance for Repairs (Very little as the building is only 8 year?s old) ? 500 Total ?3,350 Internal costs: Maintenance, Cleaning of common parts (Twice Monthly) ?500 Fire safety and other similar costs / Communal lighting ?400 Total costs ? 44% x ?3,350 ?1,475 Internal Costs ? 900 Total ?2,375
Energy Performance Ratings - The apartments all have an energy efficiency rating of D.
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