Each week we have a look through Edinburgh and the Lothian’s property for sale market and highlight a buy to let investment opportunity which offers good value, potential for a decent yield and a safe bet for good long-term tenancies.
Our search is completely independent and we hold no affiliations with any of the selling agents that happen to be marketing our chosen property.
This week we have chosen a property which we believe could offer a great yield, however, may not offer as much in terms of Capital Appreciation as some of our other suggestions over the weeks. Many agents may advise against properties like this as it is not in the most popular area of the city, however, we like to look at the whole of the area in order to find properties suitable for all investors.
The property we have selected this week is a 2 bedroom property on Moat Drive in Slateford. The location of the property means that it would be likely to appeal to a large number of potential tenants as it is only a short distance from the city centre but is far enough out to benefit from additional space in comparison to city centre alternatives.
The property comprises; open plan sitting/dining room, kitchen, two bedrooms one with fitted wardrobe, bathroom and private balcony. Furthermore, as the property is located on the sixth floor, it benefits from great views of Edinburgh, including Edinburgh Castle. In addition, the property appears to be in good decorative order throughout, as well as appearing to possess some of the electrical requirements of a rental property, including relevant smoke detection.
We believe that the prospective yield on the property would be in the region of 7 - 8.2%, depending on the purchase price, so would be an ideal investment for someone looking to purchase their first property.
The property is on the market with Deans Solicitors, advertised at offers over £100,000 and can be found at https://espc.com/property/6-6-hutchison-house-moat-drive-slateford-eh14-1nt/35676349?sid=228169
If you would like any advice on renting out your investment property or help sourcing your next property, please get in touch with us at Vanilla Property Management, Letting Agents based in Musselburgh, East Lothian.