Are you looking for a challenge… well this refurbishment
project could be for you.
Now when I say a project, this isn’t just a simple redec and
replacement carpets, it’s a full refurbishment - new kitchen, bathroom,
flooring, full redecoration and more…. In fairness it does say the property has
had replacement double glazing which is a start… and there is scope for an extension
too, subject to the relevant consents.
It’s for sale by Public Auction on the 16th of September 2015,
at the Hilton Hotel, Collingtree, Northampton and has a guide price of £135,000
TO £155,000. I would say to put aside a minimum of £15K to allow for the works necessary
(this wouldn’t cover the cost of an extension though), and of course you could put
some hours in yourself to keep costs down!
Depending on what you manage to get the property for and how
much you spend on the project - I know its all ifs and buts, but you could have
a yield ranging between 6.0% and 6.8% based on the figures above, as rents for
these properties in a refurbished condition are around £850.00pcm.
Although this is a pretty large project, and will not suit
everyone the potential on this property could be worth it for someone who likes
a challenge!
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