This is a great example of making small changes to a house to turn it into a high-yielding Buy To Let property. It is a 3 bedroom detached house, converted into 1; 1 bed ground floor flat and 1; 2 bed first floor flat. On offer for £279,950 by Roberts, this property yields over 5.2%
It's not your usual 3 bedroom detached house. Converted into 2 separate flats with a small communal entrance area, this conversion really has maximised the rental potential of this property. Through this arrangement, the flats are of course freehold, avoiding the usual high charges associated with leasehold flats. It's worth mentioning that obtaining a mortgage may be slightly more difficult due to the arrangement of the property, it will be well worth speaking to a specialist mortgage broker for advice.
The location is strong, with great transport links in the area and only 1 mile from Bournemouth train station. It is also close to the Bournemouth University which is ideal as students will be the main target market. There is a huge rental demand for these kind of properties in this area so I wouldn't see voids being an issue.
In terms of price, £279,950 is definitely on the higher end of the scale when looking at nearby properties to compare with. The area has however seen consistent steady growth in house prices for detached properties so over the long term, so long as the property is well maintained, you should see capital gain.
Overall an interesting property arrangement with a strong monthly rental yield and potential for capital gain in the long term. A good option for a buy to let investor.
Please take a look at some of the other articles in this blog for information and advice on the Bournemouth property market. If you have any questions or would like some advice about buy to let investment in this area, please give me a call on 07979123970 or send an email to luke.marchbanks@belvoir.co.uk
Thank you for reading.
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