Located towards the south of the city, this development was build by Persimmon Homes around 4 years ago and comprises of around 60 purpose built apartments, maisonettes and houses.
With a property of this age you are less likely to inherit the maintenance problems you can encounter with older investments which can have an impact on the rental return. You would also have the remainder of the NHBC warranty should there be any serious issues with the property.
In terms of tenant profile we would expect the property to attract a working couple, or perhaps professional sharers due to its proximity to the city centre and railway station.
Modern and up-together properties normally command a solid rent and similar flats have let for around £850pcm.
This could net an investor a healthy 5.1% gross yield based on a £200,000 purchase price, however, as with all leasehold properties, please remember to enquire about leasehold costs and ground rent before committing to an offer!
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