At Osprey, we always keep an eye on the local markets for potential ‘buy to let’ properties available for sale with the areas estate agents. We try to look at properties offering high yields, long term capital growth but also a bit of both. If you’re a first time or seasoned investor and would like to discuss any of these or indeed any other property you might be considering, please do contact us.
1. Park Lane, Oakham, Rutland
Located close to Oakham town centre, seemingly in good condition thus low maintenance and has the benefit of a tenant already in situ currently paying £595pcm. This property will always be an easy renter and so a good solid investment.
2. Coleridge Way, Oakham, Rutland.
A relatively new property in a sought after development close to schools and the town centre. We manage a few properties on this development and they’ve always proven to be very popular with both families and professionals. The selling agent is suggesting an offer between £170-190,000 so if we say £180,000, we’d expect a monthly rental of £725pcm and with expenses (including the stamp duty at the increased rate) would still offer an attractive yield of approx 4.84% but as with most Oakham properties the long term capital growth is the real attraction.
3. Radcliffe Road, Stamford, Lincs.
This property has caught our eye. Stamford itself has a very strong rental market with both professionals and families keen to secure long term rentals in the town. As with Oakham, the focus here is a mix of yield and long term capital growth but given the property’s condition and location would prove an ideal, solid investment. We’d expect to achieve a monthly rental of £850 and if secured for say £230,000, taking into consideration the new stamp duty figures and other expenses could still see a decent yield for the area.
4. Cherryholt Road, Stamford, Lincs.
Moving up in the price bracket but this particular development has proved to be very popular with property investors. A very prestigious gated development close to the town centre and the properties themselves offer well proportioned, quality accommodation to suit the ‘high end’ renter. We’d expect to achieve a monthly rental of £1400-1500 and although the initial yield may not get you too excited, the long term capital growth should given Stamford’s record.
5. Regent Street and Havelock Street, Kettering, Northamptonshire
Here we have a couple of higher yield investments currently for sale in Kettering. Both seemingly in good order and being central to the town convenient not just for the shops but also the hospital, railway station, schools and other amenities. We’d expect both to rent for around £625pcm so taking the new stamp duty changes into consideration and other costs offer excellent potential yields and maybe even some long term growth.