This is a fantastic opportunity to invest in a small block of 2-bedroom apartments within the Turner Heights development in Margate. There are 5 incredible apartments which are situated on the ground, 1st and 3rd floor of the building. Offered unfurnished, these apartments comprise of bright and spacious living areas; modern fitted kitchens with appliances; 2 double bedrooms with en-suites for the master bedrooms; and 3-piece bathroom suites. Each of the 5 apartments benefit from an allocated parking space, as well as lift access and a secure entry system. These apartments are well presented throughout and coupled with an unbeatable location, this development is extremely popular with tenants.
Investment Highlights: - All 5 of these apartments are tenanted on 6 month, rolling contracts. - An overall net yield of 4.02% - Margate's house prices have increased by 32.04% in the last 5 years (Zoopla, June 2019). - According to research by Jackson-Stops, Margate saw some of the largest capital growth of all UK coastal towns within the last year. - Residential property market in seaside towns is strong due to high demand from people buying holiday homes or simply wanting to live by the coast.
Turner Heights is located in the picturesque seaside town of Margate, no more than a 15 minute walk away from its beautiful beach front. Margate's town centre and high street is practically on the doorstep of this development, where residents are in the perfect location to enjoy everything that this picturesque seaside town has to offer. Margate also offers plenty of amenities to enjoy such as the Turner Contemporary art gallery, Dreamland - a renovated retro theme park, the Winter Gardens and the Shell Grotto - a mysterious, shell-lined tunnel network. Then of course there is Margate's beautiful sandy beach, offering incredible views and lots of seaside entertainment.
Disclaimer: These apartments are only available to be sold as a block of 5.
Gross rent: £37,500 Ground rent: £500 Service charge: £4,000 Lettings fees: £1,875 Net income: £31,125 Gross yield: 5.36% Net yield: 4.45%
Important Note To Purchasers
*Service charge, management fee and ground rent are included as part of the assured rental period. These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
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