I was chatting to one of my landlords who recently purchased a property at City Quay to add to their portfolio.
I know this area very well and have let flats/town houses there virtually since the development started.
The thing to note is that not all property is created equal even in a relatively small area like city quay. Now there are a variety of sized properties from town houses to four bed apartment’s there, but in my opinion these aren’t optimal for renting (unless you want to go down the HMO route).
http://www.tspc.co.uk/details.asp?id=115692
My choice would be something like the one above. A spacious two double bedroom apartment in a modern block, views over the docks to the city and secure parking. Asking price £135,000, now by coincidence I’ve let identical flats to that in that very block and I think a conservative rent would be around £650 per month, giving you a rental return of nearly 5.3%. Not too shabby, especially when you factor in the likely capital appreciation in the area.
If you want to pick my brains about this or any other property, by all means drop me a line. Nick.horan@belvoirlettings.com
Love Miss Toots X
