Bow House, Sheffield City Centre S1 with 6% yield potential
Leopold Square is immensely popular.Â
In the city centre you donâ€™t come across many apartments with much character, Leopold Square is exception to this. Formerly a school, Leopold Square has been made into residential apartments. There are still signs of the old school everywhere!
This property is currently let at Â£895 per month, but I feel there is potential to achieve Â£950 for the immediate future and Â£1,000 in the next few years.
At the asking price and at the current rent, the yield is only 4.83%, if the rent was Â£1,000 and the price was reduced to Â£200,000, the yield would still only be at approximately 6%. As a buy-to-let this wouldnâ€™t be the best as the service charges are relatively high in this development with all apartments no matter how large or small paying the same amount.
I feel that this property would be a great place to live in, but for an investment it wouldnâ€™t be for me.