West One, Sheffield City Centre with 6.64% Return
A few months ago, a one bedroom apartment with the same layout as this apartment sold for Â£110,000 within a week, this was advertised at Â£115,000. This property is Â£2,500 more expensive but I still expect interest to be high and believe this property will sell quickly.
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 does look overpriced and this property remains for sale.
It is not clear what the rent is for this property achieves in rent or even if it is tenanted, however a property of this size and quality would achieve Â£650 pcm at this time of year.
At Â£650 pcm and assuming the property sold for asking price, the yield would be 6.64%. This is a reasonably good rent and yield, but with ever increasing demand for West One, I donâ€™t think it will be long before the rent for this property will be Â£700 pcm, which would mean a yield ofÂ 7.1%
West One is one of the most popular city centre developments, attracting a lot of tenants from China and elsewhere overseas. If available 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 investment, look no further.