6.25% yield on one-bed flat in gillingham

Hello my Medway Property News blog readers. The EU referendum vote went ahead today and the nation was gripped and divided. We’ll find out in the morning what the result was. Whatever happens, this has been a great exercise of democracy and I hope permanent change can be implemented for the positive.

This one-bedroom flat entered the Medway property market on Tuesday and is listed for £115,000.

It looks to have been converted out of a house. As it is very close to Gillingham station and looks to be in a relatively good condition it should be easily lettable at £650-675.

Factoring in a two weeks’ void period, which I find typical for this kind of property in the area, and including £3,450 Stamp Duty and legal fees the gross yield comes to 6.25%.

So what about capital growth? Well prices on Gillingham Road have risen 31.89% in the last five years which has averaged at £51,807. So this buy-to-let deal in Medway could be worth a look.

If you wanted to talk about investing in Medway property, give me an email at hasan@bullfinchproperties.co.uk, or call me on 07944 726676. As I’m I only do lettings, I’m happy to give impartial advice on any property you are considering regardless of which agent is selling it. I’m also the only letting agent in Medway to specialise in HMOs, so I’m happy to advise on that as well.

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