Porter Brook, Pomona Street, Sheffield S11 with 7.5% potential
Listed yesterday is this studio apartment at Porter Brook, Pomona Street, S11.
I have recently written a blog on a one bedroom apartment in this same development that was advertised just a few days ago.
I compared this development with Wards Brewery which is located just next to Porter Brook. I spoke about the popularity of Wards Brewery compared with Porter Brook. As Wards Brewery is much more well known it is considerably more popular considering the location.
This property however seems a good buy, this property achieves Â£500pcm, which for a studio is very high, even if purchased at the asking price of Â£85,000, the yield would be just over 7%.
If you could get this property for Â£80,000 the yield would be 7.5%. The yield on the one bedroom apartment in this development that is for sale was less than 6%.
Generally speaking, tenants prefer one bedroom apartments, but this studio looks to be of a high standard and I cannot imagine any problems finding tenants for this property. The rental market in this area is buoyant.