Wards Brewery, Sheffield, S11 with 5.9% Return
Listed this week by Blundells is this two bedroom apartment at Shire House, Wards Brewery, Sheffield, S11.
When it comes to lettings, two bedroom apartments in Wards Brewery are like gold dust. It is often the case that tenants will sign up for a property in Wards Brewery over 6 months before it becomes available.
Rents in Wards Brewery have been on a steady incline in recent years so you can expect to achieve approximately Â£800pcm for a high standard two bedroom apartment with two bathrooms. In addition to this you could achieve up to Â£80pcm for a car parking space. Unlike other developments around the city centre, there are a lot of professional tenants with jobs away from the city centre, so require a car to get to work and therefore need parking. Other developments have a high percentage of student tenants who are often from overseas and donâ€™t usually have cars.
With a total rent of Â£880pcm and presuming the price paid was asking price, the yield would be approximately 5.9%. This is relatively low, so I would be making a lower offer for this property.Â
Other two bedroom properties in Wards Brewery have been advertised at around Â£160,000, so my offer would be close to this should I look to buy.
As this property has just been advertised there are no pictures at the moment, so it is difficult to tell the quality. Maybe this property is larger than average and offers a higher standard than normal, hence the higher price.
It is likely that prices in Wards Brewery will increase over the next few years, so now seems a good time to buy.