Monday, 4 July 2016

Potential 12% Yield in Burley

This 6 bed house on Stanmore Street in Burley is in a fantastic location for both students and professionals. It's located a few minutes walk away from Headingley stadium and in the other direction it's a few minutes walk away to Burley Road and all it's main transport routes. 

This is a very popular area and we have let many properties of this type in this area due to the high demand.  

In it's current condition and with the varied room sizes it might be a struggle to let all the rooms but by investing in a refurb you could make this property really stand out and ensure a fully let property consistently and achieve around £2,210pcm.  

Firstly, I would recommend altering the ground floor to convert this as the communal space with the living room and kitchen. I would then convert the large basement in to two bedrooms with a Jack and Jill bathroom. On the first floor where you currently have too many bedrooms squeezed in, I would suggest taking out the bathroom and toilet and create two larger bedrooms also with a Jack and Jill bathroom and you also have the option of installing another Jack and Jill on the top floor.  

For the refurb you would be looking at spending around £30k which if you managed to managed to get the property for around £195,000 that would give you a fantastic return of nearly 12%. 

If you would like any advice on buying a property to let, feel free to give me a call on 0113 2743488.

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