Holland Asset Management are delighted to offer our investors a fantastic investment opportunity to purchase this below market value residential property for only £62,000
Situated in the popular tourist town of Haltwhistle this property will be in high demand by farmworkers attracted by the thriving agricultural market supported as well as tourists seeking out a reliable base for exploring the stunning Northumberland countryside.
For comparable evidence of the strength of sales and rentals locally please view our reports by accessing the links below:
Sales: https://report.homesearch.co.uk/view/ZTRjZWQwNDY5OGFmNDU5MmIyOTJhYWExYWMyN2M3YmQ%3D
As you can see there is a severe shortage of rental properties available.
Property Type: 2 Bed Flat
Purchase Price: £62,000
Discovery & Processing Fee: £4,794
Stamp Duty: £3,100
Legals: £1,600
Refurb: £6,700
Total Cash in: £78,194
Gross Development Value: £95,000
Rental Value: £695 per month
Management: £70 per month
Insurance: £30 per month
Net Profit: £595 per month
The figures above are on a single let basis but given its location would work well on a holiday let basis which would nudge the net monthly return up to about £1,000 per month.
We have the project management team and trades that can handle the refurb on projects like this.
With Savills’ predicted growth rate for this area of 26.4% in the next 4 years, and with it being a key hotspot for growth & tourism, an investor will witness healthy capital appreciation in the years to come!
*reference: https://www.savills.co.uk/insight-and-opinion/research-consultancy/residential-market-forecasts.aspx
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