Buy To Let Of The Week - Current Yield Of 10.7%

Posted by Matt on 15th September 2016

Every so often we use our expertise to search the local property market for good potential investments, not only for new landlords looking to dive into the residential property market but also portfolio landlords looking to bulk up their portfolio. 

This week we've spoken with a local estate agent and found this spacious 7 bed student property which is fully let until 30th June 2017 and bringing in a gross yield close to 10.7%. Its large basement may also allows for adding more bedrooms (subject to necessary consents). You can check out the details here on Rightmove:

29 Estcourt Terrace, Headingley, Leeds - 7 Bed House - £325,000

Located in Headingley, a very popular student districts of Leeds, on the door-step of lots of fantastic shops, restaurants, bars and pubs. Not only is it close to Leeds Beckett University but also on excellent transport links to The University Of Leeds and the City Centre.

According to the agent's description:

This SUBSTANTIAL 7 BEDROOM MID-TERRACE property has undergone a SIGNIFICANT REFURBISHMENT PROGRAMME IN 2015, and is currently let until 30th June 2017 with a very attractive gross rent of £34,675 p/a including electric, gas, water, broadband & TV Licence.

Use our Instant Rent Calculator to compare the current rent achieved against the potential rent achievable.

The description goes on to explain that features include extensively fitted kitchen with American style fridge, new high spec bathrooms/shower rooms, floor coverings, decoration, UPVC dormer cladding and plastic rainwater goods. Other benefits include gas central heating, UPVC double glazing, fire alarm and fire doors.

A few points to note, according to the agent's particulars:

  • Currently let until 30/06/2017 with a gross rent of £34,675 p/a inc. electric, gas, water, WiFi & TV Licence
  • The current owner has a HMO Licence for 7 occupants until 30th June 2020
  • Large basement could provide additional income (subject to necessary consents)
  • Subject to the existing tenancy agreement
  • Vacant Possession 1st July 2017

If this is an investment you may be interested in then check out the current market conditions in Headingley using our Landlord Dashboardwhich includes - peak seasonal months for lettings, average rents in the local area, which size properties are in high demand, and more. 

Disclaimer - The information displayed about this property comprises a property advertisement. Redbrick Properties (Leeds) Ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. The above does not constitute property particulars. The information is provided and maintained by Castlehill, Headingley. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

By Matt

Redbrick Properties was established back in 2002 and since then has gone from strength to strength building up a fine portfolio of residential properties along the way.

We could never be accused of being a faceless agency as both Mark and I still work front-line in the office along side our experienced and capable staff.