**INVESTOR OPPORTUNITY** - No onward chain – Fully tenanted one bedroom apartment in a superb position close to the city centre and great local amenities – RENT: £500pcm/ £6,000p.a. GROSS YIELD 7.5% -All tenant administration current and fully compliant with all legislation – NO COST TO TRANSFER TO NEW OWNER OR MANAGING AGENT – Northwood will hand across all relevant paperwork and deposit info at no charge OR set up management for the new landlord with no fee. Market Rent (Potential) - £625pcm/ £7,500p.a or Gross Yield at 9.4% - above average for the market. SERVICE FEE: £40 per month - ZERO Ground Rent - Lease 999 years from 1981
Entrance Hall - Bedroom with built-in storage - Bathroom - Living Room - Kitchen - Communal Parking
INVESTMENT OPPORTUNITY – TENANTED ONE-BEDROOM APARTMENT
10 Chantry Court, Box Grove, Hereford, HR2 7YQ
PRICE REDUCED TO £80,000 – NO ONWARD CHAIN
An excellent opportunity for property investors to acquire a fully tenanted one-bedroom apartment in a convenient location close to Hereford city centre, offering immediate rental income, an established tenant and an attractive gross rental yield.
With the property offered at a reduced asking price of just £80,000, this is an opportunity to secure an income-producing investment without the usual delays and costs associated with finding a tenant and preparing a property for letting.
KEY INVESTMENT FIGURES
The apartment is currently let at £500 per month, providing the new owner with an immediate annual rental income of £6,000 and a gross yield of 7.5% at the reduced asking price.
The tenant has lived at the property for several years and intends to remain, providing continuity of occupancy and avoiding the potential costs, uncertainty and lost income associated with finding a new tenant.
There is also scope to review the rental income over time. At an indicative market rent of £625 per month, the property could generate £7,500 per annum, equivalent to a gross yield of approximately 9.4% at the asking price, subject to a lawful rent review and the applicable tenancy requirements.
PROFESSIONALLY MANAGED AND COMPLIANT
The property is currently managed by Northwood, with the tenant administration and compliance documentation up to date. This offers a straightforward starting point for an investor seeking an established rental property rather than a project requiring immediate work or a new letting.
There is NO CHARGE TO TRANSFER THE LETTING TO A NEW OWNER OR TO AN ALTERNATIVE MANAGING AGENT, giving the purchaser complete flexibility over future management arrangements.
PURCHASE THE PROPERTY AND REMAIN WITH NORTHWOOD, AND WE WILL PROVIDE THE FIRST THREE MONTHS’ PROPERTY MANAGEMENT FREE OF CHARGE.
There will also be NO MANAGEMENT SET-UP FEE when the property is transferred to the new owner and the management arrangements are switched across.
The buyer can therefore benefit from continuity of professional management with Northwood or appoint their preferred managing agent without an administration or transfer charge.
CONVENIENT LOCATION AND ALLOCATED PARKING
Chantry Court is conveniently positioned close to Hereford city centre and a range of everyday amenities. Nearby facilities include a Tesco supermarket and petrol station, together with fast-food outlets, newsagents and other local services.
The apartment also benefits from allocated off-road parking, an attractive practical feature for tenants and an added benefit in a convenient urban location.
LOW FIXED PROPERTY COSTS
The property benefits from zero annual ground rent, while the service charge is just £40 per month (£480 per annum). This covers buildings insurance and the maintenance of communal areas.
These relatively modest stated costs provide useful clarity for investors assessing the property’s ongoing expenditure. Buyers should confirm the current service charge, lease terms and any additional liabilities as part of their due diligence.
AN ATTRACTIVE BUY-TO-LET OPPORTUNITY
Priced at £80,000, this fully tenanted one-bedroom apartment offers an established rental income, a long-standing tenant, allocated parking and convenient access to local amenities.
With a current gross yield of 7.5%, the potential to achieve a gross yield of approximately 9.4% at the indicative market rent, no onward chain and flexible, cost-free management transfer arrangements, this property merits serious consideration from landlords seeking to expand an existing portfolio or investors looking to enter the residential lettings market.
Gross yields are illustrative and calculated before service charges, maintenance, letting and management fees, insurance beyond that covered by the service charge, taxation, void periods and other ownership costs. The potential market rent is indicative and is not a guarantee of achievable rental income.
SELLING? WE OFFER FREE MARKET APPRAISALS OR SALES ADVICE MEETINGS WITHOUT OBLIGATION. CONTACT NORTHWOOD ON 01989 764050 TO FIND OUT HOW OUR AWARD-WINNING SERVICE CAN GUIDE YOU ON THE BEST WAY TO SELL YOUR PROPERTY.
Stamp Duty: Ensure you understand your Stamp Duty and Land Tax (SDLT) obligations before making an offer.
Residential Properties: Stamp Duty applies to purchases over £125,000 (standard threshold). First-time buyers benefit from an increased threshold of £300,000, provided the property costs £500,000 or less.
Additional Properties: If you’re purchasing a second home or buy-to-let property, a 5% surcharge applies on top of standard rates.
We give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order or fit for their purpose, neither has the agent checked the legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.
AML REGULATIONS To ensure compliance with the latest Anti Money Laundering Regulations all intending purchasers must produce identification documents prior to the issue of sale confirmation. To avoid delays in the buying process please provide the required documents as soon as possible. We may use an online service provider to also confirm your identity. A list of acceptable ID documents is available upon request. EPC rating: D. Council tax band: A, Domestic rates: £1619.24, Tenure: Leasehold, Annual service charge: £396,
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