St. Pauls Parade, Sheffield City Centre, S1 with 7.1% Yield
The advert for this property suggests that the potential rent achievable is £725 per calendar month. My own experience of Sheffield city centre tells me that this can be bettered, and a monthly rent of £775 could be achieved.
St Paul’s Tower is one of, if not the, most prestigious developments in Sheffield and has been known to have the most popular postcode to live in! The majority of the building is tenanted which automatically suggests that these properties must make for a good investment, if the demand for such a property is so high.
If asking price was paid, the yield on offer to any buy to let investor would be 7.1%, which is an exceptional return for a property that offers such a high chance of being tenanted all year round.
It’s likely that this property will attract interest from investors mainly but interest is likely to be high, so this apartment may sell quickly.