There have been a few properties ‘hanging around’ on the Bo’ness
property market for some time now and the owners are beginning to reduce the
prices as, obviously, they are keen to get them sold.
I have mentioned a couple of these properties on The Bo’ness Property Blog before so I thought that I would remind you of them and there reduced prices.
The first property is the 1-bed flat in South Philpingstone Lane
in Bo’ness. The flat, which is in good decorative condition, has a
lounge, a separate modern fitted kitchen, a double bedroom and a modern
bathroom with a shower over the bath.
The second property is the 1-bed first floor flat in Liddle Drive
in Bo’ness. It has a lounge, a separate fitted kitchen, a double
bedroom and a bathroom with a shower over the bath. There is a
shared ‘garden’ area at the rear and on street parking. The flat
needs a bit of refurbishment – for example, the kitchen and bathroom are a
bit ‘tired’.
The South Philpingstone Lane flat’s price has recently been
reduced to offers over £40,000; let’s say is goes for £45,000. I would expect that you would get rent of
£425/month which gets you to a gross rental yield of 11.3%.
The Liddle Drive flat’s price has also recently been dropped this
time to offers over £50,000; you may get this property for a cheeky £52,500 or
more likely a less cheeky £55,000. I estimate that refurbishment
costs may be £5,000 which would take the property cost in the range of £57,500
to £60,000. I would expect that you could get a rent level of
£425/month based on the flat being refurbished which would give you a yield of 8.5%
- 8.7%.
We hope you find our posts useful. If you would like
some advice with your potential investment, please call me on 01506 828096, pop
into the office at 6 Vicar Street Falkirk to see me or email me
on news@thekeyplace.co.uk.
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