Miss P from London was looking for a buy-to-let apartment in Manchester with a budget of £145-170k. Although she didn’t know the area at all she had been attracted by the prospect of good rental yields.
Apartment1 or 2 bedrooms
Investment potentialGood rental yields required
CityCentral location attractive to professional tenants
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How we did it
As Miss P was ideally targeting the professional tenant market, we were able to use our extensive experience with corporate tenants to focus her search on areas where there was consistently strong rental demand and also potential for future capital growth. An initial longlist of 19 properties was previewed and shortlisted down to six for Miss P to view personally over the course of a 1 day visit.
The chosen property – a 2 bed 2 bath apartment at Media City, was secured with a negotiated reduction of 4.5% from the asking price including the furniture. Having also taken the opportunity to review the rent when the existing tenant left, Miss P managed to obtain a 6.8% gross annual rental yield on her investment.