Purchase Method:                 Auction

Purchase Price:                  £110,000

Value 2021:                         £165,000

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Leasehold

Bedrooms:    2

Receptions:  1

Bathrooms:   1

Parking:        1 

Garden:      10 ft

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This 2 bedroom flat was brought at auction in December 2013 with a view to having a broad and balanced property portfolio.

 

Although the property was being rented out to social housing tenants when it was purchased, the contract in place was with Milton Keynes Council on a guaranteed 3 year fixed income, all rent and repairing contract.

 

Up until recently, this property was considered the "runt of the litter".  However, a rapid growth in local property prices and MK Councils demands for housing tenants have seen the rent increase from £650 to £785 on the recent review in 2018.  Further increases are expected as demand increases and investors are restricted from entering the BTL market.

 

Seen as a "sell" in December 2017, this property is now on "hold" and further equity gains are anticipated at this lower level of property affordability.

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Note:

Further financial information on all of our previous developments is available to investors upon receipt of a signed NDA. 

 

Contact us for more information.