Cracknell, Millsands, Sheffield City Centre S3 with 7% Yield
This property looks to be a fantastic investment opportunity.
The majority of apartments in Cracknell have been bought to let and I feel an investor will be keen on this property. This property has potential to achieve in excess of Â£750pcm, which would mean a very impressive yield of 6.92%. Rents in this development have been on the rise in recent years and this trend shows no sign of stopping, from summer 2016 I would expect yet another increase to approximately Â£760pcm, if this is the case the yield will be just over 7%.
Cracknell does consist of a mixture of student and professional tenants, because of this there is interest throughout the year, however because this development does attract students, the demand is much higher between June and October, thus rents will naturally be higher during these months.
This particular apartment looks to be in good condition and would rent in this condition with no further work required.
In terms of location, you are only a ten-minute walk away from the heart of the city centre and access to the parkway and other main outbound roads is excellent.
Parking facilities in the area are much better than more central developments, which does attract tenants who want to avoid high parking charges in the city centre. An allocated parking space is included with this property.