Daisy Spring Works, Kelham Island, Sheffield, S3 with 6.6% Yield
Currently let at £675pcm, this two bedroom apartment would be seen by many as a good arm-chair investment. At the current rent and asking price, the yield is just over 6%, which is already an excellent yield, but I feel there is certainly room for improvement as far as the rent is concerned.
Properties in Kelham Island and specifically Daisy Spring Works are very popular and given this property has a balcony two double bedrooms and two bathrooms, I would expect the property to achieve approximately £700pcm excluding parking and at a peak time of year. I believe the car parking space would comfortably achieve an additional £50pcm, meaning the total income would be £750pcm, this generates a very impressive yield of 6.6%
As is the case with all apartments in developments such as Daisy Spring Works, there will be a service charge and ground rent to consider, but at £1220 per year in total, this is very reasonable compared to other developments.
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