Royal Plaza, Sheffield City Centre with 5.4% Yield
Calling all investors! A rare opportunity to purchase at the ever popular development Royal Plaza on West Street.
This property is offered with no chain which suggests that the owners no doubt purchased the property as an investment, which I expect will have served them well! This property could achieve up to Â£900pcm, which is amongst the highest in the City Centre at the moment. With an annual rent of Â£10,800 and if purchased at asking price, you can still only expect a yield of 5.4%. I wouldnâ€™t let this put you off too much however, you can probably negotiate the sale price to Â£180,000 – Â£190,000. The vendors are likely to be trying their luck on the advice of their agent but are most likely to have a lower figure in mind.
The property is one of the largest among the many different layouts in Royal Plaza, the living room alone is 20ft in size! The overall size of the property is 1200 square meters, youâ€™d struggle find another property offering the same amount of size and quality.Â
The building itself is incredibly popular among students with an average void period of only 1 day. The properties are easy to maintain with all electric appliances so no high running costs for your tenants to worry about. You can expect an enormous amount of interest in this when it comes to renting out, this particular apartment offers more than most. Great views of West Street, large open plan living and the status that comes with being a resident in Royal Plaza. The management company for the building are exceptional too, they really go out of their way to maintain the building to high standard and spend the service charge where needed.
You simply cannot go wrong by purchasing a property in this development, the demand is high and the demand is extreme! If youâ€™re serious about investing, you need to view this property.