BtL DOTW - Terry House, Park Row, Bristol

In order to find you the best BTL Deal of the week, I trawl through hundreds of properties from estate agents all over the city I, look at what rents similar properties are achieving and whether the property makes sense as a business, and if it does and only if it does will I the commit myself in writing. 

Sometimes however a potential buy to let just appears in my inbox from a friendly agent and this week’s DotW is just such a property.  Terry House is a classic example of how a management company can make a difference.  In the early to mid 1990’s Terry House and its sister Irving House were pretty downmarket.  The bock was rundown and the quality of tenants renting the flats was spiralling downwards.  Then a group of owner occupiers took control of the management company and started turning the block around.  Problem tenants were removed, the public areas were upgraded and money was spent on upgrades like double glazing.  Slowly but surely the blocks reputation improved, better quality tenants moved in, now it is sought after.

This flat ticks a lot of investment boxes.  It is just yards from the University and BRI so would be attractive to the many people who work in the vicinity.  It has two double bedrooms so is ideal for two sharers.  It has a balcony so tenants can sit outside and it has a GARAGE so a tenant can have a car and walk to work.  This is the big selling point a city centre property with a garage adds at least £100 to the rent and this is no exception.

We would expect a two bedroom flat here to let for between £950 and £1,000 pcm so at an asking price of £207,000 we would be looking at a potential Gross return of 5.8%

Tenants Particulars

• Excellent central location
• Garage
• Two double bedrooms
• Balcony

Landlords Particulars

• Well run management company with relatively low cost charges
• Sought after development
• Popular development with potential tenants
• Potential Gross return of 5.8%

This property is currently marketed by Ocean Estate Agents.  If you are looking for a block of flats to build your portfolio, then this property should be on your Rightmove like list.

Click here to view this property on Rightmove.

For more information on potential buy to let property contact Peter Ellis on 0117 973 9394 or email peter@aul.org.uk