West One, Sheffield City Centre Apartment with 7.09% Yield Potential
A few months ago, a one bedroom apartment with the same layout as this apartment sold for Â£110,000 within a week (it was advertised at Â£115,000). I fully expect this property to sell as quickly for the asking price. If anything, this property is of a slightly higher standard, so could achieve higher than Â£110,000.
More recently a one bedroom apartment in West One has been advertised for Â£130,000. This is of a very high standard, but at Â£130,000 it does look overpriced.
It is advertised that this property, for sale at Â£109,995 achieves Â£590pcm. For West One, this is a really low rent. At present an average rent for a property of this size and quality is Â£625 rising to Â£650 from this summer.
At the current rent, the yield would be 6.44%, however at Â£625pcm, the rental yield would be 6.82% and at Â£650pcm the rental yield would be a 7.09%.
West One is one of the most popular city centre developments, attracting a lot of tenants from China and elsewhere overseas. If available to rent in the summer, it is unlikely that a property in West One will be vacant for anything longer than a few days.
If you are looking for a good, easy and reliable investment, look no further.