Kelham Island is one of the most up and coming areas in Sheffield so an apartment in an already established building, Cornwall Works, is in some ways a no risk investment.
However, the area has been known to flood in the past which would put off some investors but I don’t believe this will be on the market for long. It’s attractively priced at £96,500 and a monthly rent of £550 would be easily achievable if offered on a furnished basis. This would result in a yield of 6.8% and you could expect very little or no void periods should you invest in this apartment.
If you’re not a cash buyer, you could hit some stumbling block in conveyancing though, as the flood search would come back raising concerns.
It may be one to be careful with due to the flood risk issue but should you purchase and become the new owner, a worry of finding tenants should not be something you will experience.