Investment Spotlight

Welcome to the first edition of our monthly investment spotlight, where we pick three properties which are currently for sale with Mark Ewin, in and around Bury St Edmunds, which we believe would make a good buy-to-let purchase, Then, using our experience and expertise we give you a run down of the pros, cons and likely rental prospects of each.

Two Bedroom Terraced Property on Short Brackland, Bury St Edmunds – IP33 1EL

We are starting very close to home, with this two bedroom one bathroom, terraced property which is opposite our office on Short Brackland Street. Being a quiet street with only a very short walk into the Town Centre, the location is very attractive indeed to prospective tenants. The property itself does require modernisation and updating and this should be factored into any calculations. The property would work well for a single person or a couple, and is also likely to attract single members of the USAF (United States Airforce) who are stationed at RAF Lakenheath or Mildenhall but would prefer the town lifestyle.

We would suggest that this would rent for somewhere between £900 – £1000 per calendar month once work has been done to bring it up to date. This would give a gross yield based on the asking price of £210,000 of 5.14% – 5.71%

Four Bedroom Detached On Tudor Road, Marham Park

Marham Park has offered some great opportunities previously, and you can read more about why new build can be a great buy to let investment in our recent blog which includes some case studies of properties on Marham Park – Click here to read

This substantial four bedroom home has clearly been built to a high specification and would attract high end tenants, including higher ranking USAF personnel and their families. We would expect a rent of close to £2000 per calendar month to be achievable, which based on a purchase price of £500,000 would give a gross yield of 4.8%.

With very little if anything to be done to prepare the property for rental, this could well be a smart choice.

Three Bed Family Home on Suffolk Road

This three bedroom family home on Suffolk Road presents an interesting investment proposition. It has been extended and modernised by previous owners, and whilst not to everyone’s taste, this does mean that it is fairly “rental ready”. It also is continently located on the Mildenhall estate, which means it would likely attract families who are with the USAF. Due to this, and the comparatively low purchase cost (asking price of £255,000) the yields could be fairly strong here.

We anticipate a rent of between £1100 and £1250 could be achieved, giving a gross yield of 5.18% at the lower end or 6.12% at the higher.

If you would like further information on any of the properties above, or would like to arrange a viewing, please contact Mark Ewin Estate Agents on 01284 217 530

As always, if you would like specific advice on any aspect of lettings please do contact either Chris or Andrew on 01284 702 626