Pitchford Road: A unique investment opportunity
Are you looking for an investment opportunity in the Norwich area? Looking for high yields with minimum involvement, or want to build a successful property portfolio? Then Pitchford Road could be just the opportunity that you have been looking for. And it will be available in the coming months.
This seven bedroom, four en-suite, HMO is a fantastic opportunity for investors. Aimed squarely at the student market, this property is located near the university and in a prime rental area. What’s more, it is currently let for two years so you won’t even have to go through the hassle of finding tenants.
The building is currently for sale for £495,000. For this, you get the seven bedroom property with parking space. It is currently let for £42,000 a year, which represents a yield of 8.5%. The property has been fully renovated and newly extended so there is no need for further spend other than general maintenance and repairs.
The communal spaces have been renovated to a very high standard, there is a modern kitchen and a secure bike store, which is something that is a boon to students. To the rear of the property there is also a private garden space.
The property represents a unique opportunity to purchase a profitable property in the middle of a prime rental area. Norwich’s reputation as a booming city with a large rental sector is driven by the university’s presence. The market here is strong and growing as more investment comes into the city and more people relocate from London. With a yield far greater than you would get in any bank account, this represents a great investment in terms of both yield and asset growth.
To find out more about the property, including details of the current agreement and renovations, get in touch with our team here at Agile Property Partners.
This is one of our most exciting property opportunities, with a rare rental property in a great area with an existing high yield rental contract already in place. All the hard work has been done for you, with simple maintenance and small-scale tenancy issues the only aspects to consider. Find out more about the property from our team, or pick our brains about why Norwich is such a great place to invest in the current climate.
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