St. Pauls Square, Sheffield City Centre. Return of 7.8%
Listed yesterday, is this one bedroom apartment at St Paulâ€™s Tower, S1.
Only at St Paulâ€™s tower will a one bedroom apartment achieve Â£850pcm. Most two bedroom apartments around the city centre will not achieve as high as Â£850pcm.
The higher the floor the more a property tends to sell/rent for when it comes to St Pauls.
This area is surrounded by restaurants, so apartments on the lower floor will be more affected by noise, you also have the advantage of a fantastic view the higher you go.
This property is already tenanted, with the tenant paying Â£850pcm, this means that if purchased at asking price, the yield would be 7.21%, which is good but I feel there would be potential to agree a sale at lower than the asking price, at Â£135,000,Â the yield would be approximate 7.8%, a very strong yield indeed.
There is a high service charge to consider at St Pauls, but this is justified with the pristine condition of the development which enables the higher rents.
Rents are likely to carry on increasing in St Pauls as are property values, so now is the time to buy!