Latest Valuation
£125,000
Yield
6.7%
Selling Agent
Sourced Chester

Multiple Units Available – BTL Properties with 30% ROCE

Hands-Off Investment Available Off-Market
Guide Price
£112,500

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Key Features

  • Tenanted
  • Multiple Units Available
  • Close to Amenities
  • 30% ROCE
  • Hands-off Investment
  • Regeneration Area

The Property

A selection of 2 and 3 bedroom houses, all benefiting from being sold with tenants in situ.

This investment ideally suits anyone looking for multiple units with a complete hands-off investment.

Each house is for sale for £112,500 and already includes a 10% discount for investors.

14 Willington Road is a2 bedroom side of terrace property, with off-street parking to the rear. The property is currently tenanted and has a total floor space of 840 sqft. The tenant has been in the property since July 2019 and is currently on a periodic tenancy. The property is accessed at the rear of the property, where you will enter the dining room. Off the dining room, there is a spacious lounge, the kitchen area and a family bathroom. There is also a small courtyard style garden. Upstairs you will find 2 spacious double bedrooms.

16 Willington Road is a 3 bedroom mid terrace property. The property is currently tenanted and has a total floor space of 765 sqft. The tenant has been in the property since August 2012 and is currently on a periodic tenancy. To the ground floor of the property, there is a good sized kitchen/diner and a separate spacious family lounge. There is also a small rear garden.
Upstairs, the property benefits from 2 double bedrooms, a single bedroom and a family bathroom.

18 Willington Road is a 3 bedroom mid terrace property. The property is currently tenanted and has a total floor space of 775 sqft. The tenant has been in the property since June 2019 and is currently on a periodic tenancy. To the ground floor of the property, there is a good sized kitchen and a separate spacious lounge/diner. Small garden to the rear.
Upstairs the property benefits from 2 double bedrooms, a single bedroom and a family bathroom.

20 Willington Road is a two bedroom end terrace property with off street parking for two cars. The property is currently tenanted and has a total floor space of 754 sqft. The tenant has been in the property since July 2018 and is currently on a periodic tenancy. To the ground floor of the property, there is a good sized kitchen/diner and a separate spacious family lounge. From the kitchen there is a utility area with access to a large rear garden. Upstairs, the property benefits from 2 bedrooms and a family bathroom.

Planning Information

N/A

The Plan

Buying this property on a standard 75% LTV BTL mortgage means you will need £28,125 plus solicitor's fees to buy the house, and yet the house will repay you £4,894 each year, representing a 30% ROCE and fully repaying you in only 6 years.

The financials (per 1 property):
Purchase price: £112,500
Est rent: £625 pcm
Deposit (25%): £28,125
Stamp duty: £3,375
Purchasing costs: £2,000
Total money in: £33,500
Mortgage payment (2.2%): £155
Management fee (10%): £62.50
Annual net profit: £4,894
Sourcing fee: 2%

ROCE: £33,500 / £112,500 x 100 = 29.7%

Yield: 6.7%

The Location

Greater Lincolnshire is currently going through an unprecedented era of growth. We are undoubtedly one of the investment hot spots of the UK, with more and more businesses discovering how refreshingly undemanding and profitable it is to run a business from here.

The area is unique. From the Humber to the wash, covering 2,700 miles with a population of 1.1 million, a historic city, vibrant market towns and the UK’s largest port by tonnage, it offers real, tangible space to invest and grow with easy access to markets across all sectors. These include:
• Agri-Food
• Engineering (Advanced Manufacturing specifically power engineering)
• Renewables

There is a positive and dynamic feel that runs through the business community that is unmatched by other destinations. Businesses, academic institutions and the public sector working together to ensure the region flourishes!

Some of the companies who have already invested in Lincolnshire include:
• Siemens
• Hilton
• Northrop Grumman (Park Air Systems Ltd)
• Able UK
• Moy Park

Average estimated value for a house in PE20

£

Boston is going through a period of regeneration to help boost its economy.

This year has seen approval for plans including a hotel, a pub, four fast food outlets – including Costa, Greggs and Burger King, and a bathroom showroom. The first show homes were also opened earlier this year.

The Quadrant Scheme will eventually comprise 500 homes, commercial premises, a food store and a new stadium for Boston United Football Club. This will generate up to 460 full-time equivalent jobs in retail, sport, leisure, and hospitality. On top of this, during the construction phase, it is likely that up to 610 temporary construction jobs will be created over the life of the project.

With the above in mind, this will inevitably result in more people migrating to the area for work and needing accommodation to reside in. Great news for the rental market and buy to let investors.