October 24, 2016
property for investment in need of refurbishment, langford road
John Mellor Estate Agents have listed a property on Langford Road in Heaton Chapel which is appealing to a few of my clients who look to develop property with a view to sell for a profit so I thought I’d share with you all.
On the market for £300,000 this is likely to achieve a lot of interest so this won’t be on the market for any length of time. We know of similar properties also over four floors in the area which are in excellent condition which have sold for £375,000+. Assuming that this is sold for the asking price there is £75,000 minus the cost for any refurbishment to be made.
We can see Heaton Chapel achieving great capital growth in the future so it may well be an option to keep hold of the property and keep it as a buy-to-let for a few years. The expected rental return would be circa £1200/£1300 per calendar month assuming that the property benefits from a full refurbishment.
I am currently receiving lots of calls for advise on this one so it won’t be available for long. Do give me a call if you are interested and would like to pick my brains, I’m on 0161 442 1118.