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.
A new build property is generally a very safe investment for any investor, whether you own a portfolio of 100, or taking your first steps into the world of Property investment, which is why we have chosen this weeks property. New builds come with guarantees on the structure of the building, usually 10 years, but also come with other guarantees on the fixtures/fittings/appliances, depending on the build or development. With that in mind, one of the greatest concerns and financial burdens for landlords, maintenance issues, is greatly reduced. In addition, new build properties tend to be built in fairly desirable areas to attract a higher level of interest, or alternatively if not built in a highly desirable area are sold an attractive price.
The property that we have chosen this week is a lovely two bedroom, second floor property located in the popular Granton area of Edinburgh. The property was built around 10 years ago, so boasts many standard new features; including double glazing, gas central heating, fitted wardrobes in the master bedroom and a good energy performance rating (B). Given its location, the property is likely to attract a broad spectrum of potential tenants including individuals who commute into the city centre or out of town to the West of Edinburgh, students from the local Edinburgh College, or alternatively individuals who just want to live near the coast.
The property comprises two double bedrooms, living room, separate kitchen, bathroom and decent storage cupboard located just off the hallway. In addition, the property has the added benefit of secure underground parking for residents, ample visitor parking spaces, residents gym within the building and a concierge service. These features are all added incentives for tenants looking to secure a good long term property.
The property is currently on the market with Deans Solicitors and can be found at http://www.deansproperties.co.uk/property_details/35208 We believe that the rental yield on the property would be in the region of between 6.58% and 6.97% which is a good return and would have the added benefit of minimal void periods in between tenancies.
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.
Due to staff holidays, our Property of the week will take a couple of weeks off, but please check in for our next edition, returning 19/09/2018.