Freephone: 0800 043 6956 Email: info@freshinvest.co.uk
Fresh Invest
Good discounts, tenanted and with sea views! These are a great purchase for any investor looking in the South. Barnaby Chamberlain Investment Advisor
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New sea view apartments Hayling Island
AT A GLANCE
- 9 x 2 bed apartments in Hayling Island
- All apartments benefit from a sea view
- 21% discount from marketing prices
- Discounted purchasing price of £106,646
- Tenanted, producing yields of circa 6.7%
- Upward rent reviews due shortly, bringing yields to 7%
- Available as a bulk deal or as individual units
- Marketing prices backed up by market comparables
- Development build complete in 2003
- 10 year Zurich backed warranty
In detail
The Opportunity:
Fresh Invest are very happy to bring an investment opportunity to market, just a few miles from our offices. The opportunity we have is in Hayling Island just a couple of miles from the major city of Portsmouth and very close to great commuter links.
Just 9 x 2 bed apartments are available on this development, all apartments benefit from a sea view with 8 of the 9 apartments currently tenanted and producing rental yields of circa 6.7%. AST’s are currently being drawn up for increased rents which will increase rental yields to 7%
The apartments are currently marketed at £134,995 but we have negotiated a discounted purchasing price of £106,646 exclusively for Fresh Invest clients. Through recent sales, comparable market evaluations and rental appraisals we feel these represent a fantastic purchase for any investor.
Financial example:
2 bed apartment at 650sqft - £106,646
- Deposit needed – £31,993.80
- Rent – £595pcm
- Mortgage – £74,652.20
- Mortgage repayments – £235.78pcm
- Mortgage - Northern Rock 70% LTV @ 3.79% fixed
- Ground Rent – £12.50pcm
- Service Charge – £70.83pcm
- Positive cash flow - £275.79pcm (£3,309.48 per year cash flow positive)
The Development
This development was build complete in 2003 so remains in a good condition with a Warranty of 10 years backed by Zurich. The development is located right on the seafront of Hayling Island, in Hampshire. All apartments have great views of the sea and the whole development is very popular with the local rental market. All apartments also benefit from their own allocated parking space. Specification is good and includes oven, stove and flooring.
The Location
Hayling Island is a great location for commuters working in the nearby cities of Portsmouth and Southampton to the West and Chichester to the East. The A27 lies just to the North of the island and there is a ferry service giving easy transport to Portsmouth.
Hayling is also a popular area for holiday makers with a good beachfront, sailing club and Marina. Hayling island lies on the entrance to Chichester Harbour a site of Outstanding Natural Beauty!
The next step
For more information on this investment opportunity, please use the request information tab at the top of the page, we will send through the brochure outlining the opportunity in full, including pictures of the development and floor plans as well as comparable properties for sale and sold in the local area.
Once you have decided upon your chosen unit(s) please contact us and we will run you through the quick and easy reservation process.