Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
A selection of newly built 2 bed apartments, (PLC builder) supplied ‘tenant ready’ and in a prime rental location – with guaranteed rental income for 24 months*
5 minutes walk from the high street and railway station. Adjacent to the Grand Union Canal. In a prime rental location where there is consistent demand from good quality working tenants. 400 yds from the new Northampton University campus – when the university relocates in 3 years, demand for this area can only increase further.
Two bedroom apartments, in 4 different styles. Each with gas central heating and allocated parking. Many with balconies overlooking the canal. By negotiation with the builder the apartments can be supplied ‘tenant ready’ to include all appliances, all flooring, and coverings to all windows – there is nothing an investor would need to add to facilitate a tenant moving in. Long leases of 999 years apply.
Prices start from £119,995
The Rental Guarantee
There’s always a danger with new build that investors get a rental figure suggested that never comes to fruition. We don’t want that – tenant demand for these apartments will be high, and tenant quality good, so we’re happy to offer a 24 month ‘no quibble’ guarantee that you’ll get your rent. This applies to landlords who select a fully managed service from this agency. Ask us for details.
NHBC Guarantee – 10 years
Builder’s Guarantee – 2 years
Rental Guarantee – £7,500 per annum (£15,000 for 2 years)
This Bellway development at Lockside is a classic example of a low hassle ‘safe’ investment if that is your preference. What you’re buying is in excellent order (it’s brand new!), will attract good quality tenants, will enjoy minimal void periods, and for the first few years should be pretty much maintenance free. With the new university going in on the doorstep, and a 999 year lease, the potential for capital appreciation looks good too.
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