An area of Grantham which always seems to be overlooked is the Cherry Orchard, which is just off Harrowby Road.
This area, which is around Uplands Drive, Shelley Avenue and Byron Avenue, has three bedroomed semi-detached properties that may let for between £475 per month and £525 per month. It has two bedroomed semi-detached properties that will should let between £450 per month and £480 per month.
When you consider they are all freehold, you can buy a two bedroomed semi-detached house for around £80,000 and a three bedroomed semi-detached house for over £95,000. Both of these could give landlords annual yields of between 7% and 7.5%.
Semi-detached properties should consistently let well, providing they are finished to a high standard. To receive these sorts of yields in Grantham, you would normally have to consider leasehold flats, which are sometimes more difficult to sell than houses, when you need to liquidate your investment.
