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Westcott Terrace, Ferryhill,DL17 8NS- 10% Rental Yield

£69000.00

 

Westcott Terrace, Ferryhill,DL17 8NS- 10% Rental Yield

£69000.00

or call: 01483 663001

Refurbished, Tenanted & Managed 3-bedroom terraced property.

10% Rental Yield 

The property briefly comprises of entrance hall with stairs to first floor, 2 reception rooms, kitchen and bathroom.

First floor landing, 3 bedrooms and En-Suit

The property is freehold.

The property is in a good area for rental properties and for first time buyers.

EPC D

Rental figures

This property is to be let at £6600 per annum which is £550 per month. This gives a yield of 10%.  To find out more about the management services that we offer please click on the following link - services-provided-by-ready-to-rent

Refurbishment Work

Please note the photos used are an example as to what the property will look like, as it is currently being refurbished.

We will ensure that this property is to a minimum of the Durham Decent Homes Standard  and also to the current Selective licensing conditions (durham.gov.uk).  As part of the sale we will also provide a warranty to cover any snagging issues on these items free of charge within your first 6 months of ownership.

For more information please click on the following link - refurbishment-process

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Please note that this property has the option of being sold with a 6 year lease in place with a local housing provider!

  • The 6 year lease will be guaranteed for approximately £7,200 per annum each year which equates to £43,200 over the 6 years!
  • As the landlord for the property, you will be responsible for the property in terms of paying to maintain the electrics, gas (i.e. the annual gas safe certificate, the actual utility bills will be the leaseholders responsibility), and if there were any issues with the roof or any damp, but the housing provider will pay for everything else during that period which includes any tenant damage, so the property will be returned to you in its original condition less any reasonable wear and tear at the end of the lease period.
  • To secure the lease an extra £5,500 work will need to be done on the property to include extra work such as - 
    Fire Doors
    Emergency Lighting
    Smoke alarm in every room
    Oven and hob
    Fire blankets
    Plug sockets at the ceiling level in every room for their camera system

Please let us know when you enquire about this property if you are interested in this option.  It has worked for other landlords in the past!