The Chimes, Sheffield City Centre, S1 with 6.3% Yield
Available to buy in the incredibly popular development of The Chimes, is a stunningly spacious one Bedroom apartment.
The Chimes is one of the hottest developments in Sheffield city centre at the moment among students and professionals alike. The Chimes is a development tucked away behind the historic landmark that is the Cathedral, hence where the name â€˜Chimesâ€™ comes from.
A one bedroom apartment in this development can be expected to achieve anywhere up to Â£625pcm, if parking is included, you can add on an extra Â£85pcm bringing the annual income up to an astounding Â£8520!
I would agree that Â£135,000 is a reasonable asking price however offers can be expected to be around the Â£125,000 to Â£130,000 mark based on the recent sales of one bedroom apartments around the S1 postcode. Â
With the above in mind, the yield is set to be around 6.3% which is extremely generous for a City Centre development such as this one. It is often difficult to find the right balance between a decent sale price and rental income but this property certainly seems to hit the spot.
If youâ€™re an investor, this property is definitely one that you should take the time to consider!