Jet Centro, Sheffield City Centre with 8% Return
This is a great price for a one bedroom apartment, however other apartments in the same development of an identical layout and the same size of this property have been listed as studios.Â
The reason this property is listed as a one bedroom apartment is that sliding doors have been fitted to separate the living area and bedroom. I am surprised more vendors have not done this.
The reason tenants donâ€™t want to live in studios is because they donâ€™t want to be sleeping in their kitchen, with this property you are certainly not.
I feel this property could achieve Â£525 at the right time of the year i.e. July-September. Whereas a studio at the best of times will only achieve Â£495.Â
At Â£525pcm and at asking price, you are looking at a yield of just short of a very impressive 8% and if you round the asking price down to Â£78,000 you would be looking at a yield of just over 8%.
There are not often large void periods at Jet Centro, anywhere in the city centre is usually popular particularly in the summer.
If you are just looking to start a property portfolio, this is a great start. You donâ€™t want to be jumping in at the deep end!