Investment opportunity (NoBids) (Lot #84491)
|Address||2 Rackfields, Tiverton, Devon, EX16 5HH|
|Auction start||25/04/2019, 12:00:00|
|Auction end||25/04/2019, 16:00:00|
|Estimated gross yield||0%|
This attractive three bedroom cottage offers accommodation over three floors. The property comprises; entrance lobby, kitchen leads through to a light and bright sitting room with a fireplace. On the first floor are 2 bedrooms and a shower room with WC, and on the second floor is a further bedroom and bathroom with bath and shower over. The cottage further benefits from a rear garden, gas central heating and double glazing.
We believe that this property will make a fantastic investment opportunity. The property is being sold subject to an assured shorthold tenancy. The current rent is £650pcm (£7800pa).
The current gross yield is 6%, based on the current guide price.
In our opinion the market rent is £675pcm and therefore there is potential to increase the rent following completion which will increase the yield.
Tiverton itself is a popular market town with an excellent range of shopping and leisure facilities, including supermarkets and a mix of high street and independent retailers. It offers access to the M5 and Tiverton Parkway station.