1 bedroom flat for saleDunedin Way, Hayes
- Auction Date: 21st - 22nd February 2018
- Ground floor one bedroom flat
- Planning permission for rear extension to two bed flat
- Average internal condition
- Income producing investment
- Currently under rented at £9,000 pa
- Potential to increase rent £11,500 pa (1 Bed)
- Potential rent £14,500 pa (2 Bed)
- Potential yield of 8.55% (before costs) based on the guide price
- Total: 31 Sq. M (333 Sq. Ft) - Taken from EPC
The property comprises a one bedroom ground floor flat benefiting from a kitchen/living room, bathroom and double bedroom.
There is planning permission in place to extend the property to the rear to allow for conversion into a two bedroom flat.
Off road parking is provided by allocated parking space.
Investment Analysis - The flat is currently under rented at £750 pcm (£9,000 pa), representing a gross annual yield of 5.31% based on the guide price. Potential to achieve £958 pcm (£11,500 pa) on a rent increase or if re-let.
The tenant has been served a section 21 and has a move out date for 11th March 2018.
If the property was to be extended and converted into a two bedroom, we estimate the flat could achieve £14,500 pa. Planning reference: 32525/APP/2015/3117.
Services - We understand the property to have mains electricity, water and drainage however all parties should make their own enquiries.
Buyers Premium - 2.4% (min. £3,000) inc. VAT
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