TWO bedroom FREEHOLD house situated in a popular location in Bradford, West Yorkshire.
This property has many attractive features including double glazed windows, a separate fully fitted kitchen and a bathroom.
The property also has gas central heating.
Ground floor: Lounge, kitchen fitted with base and wall units.
First floor: Landing area with access to two bedrooms, and a bathroom that is fitted with a white suite comprising bath, hand wash basin, electric shower, and W/C.
The property benefits from proximity to many local amenities including schools, shops, and has excellent transport links. The property is in need of some modernisation: new bathroom, painting and decorating, new flooring and works to the garden in order to maximise the potential resale value. The estimated timescale for the work is 8-10 weeks from commencement of works, with a good finish in preparation for sale.
The property was previously sold for £70,500 on 1/10/2007.
“Why invest in Bradford?
1. Great yields at an affordable value
2. Investment in regeneration
3. A thriving local economy
4. A young, well-educated, and fast-growing population
5. Transport development will put Bradford at the heart of the Northern Powerhouse
Our research points to Bradford as providing exceptional property investment potential There has already been a tremendous amount of investment in regeneration here, and this is continuing. Property prices are very affordable, and rental yields are attractive. Property prices could rise substantially in the coming years, as the benefits of High-Speed Rail filter through”.
Purchase price £44,000
Acquisition costs (*) £9,360
PTC listing fee (5%) £2,640
Total fundraise £56,000
(*) Acquisition Costs
Stamp duty £1,320
Legal Fees £1,418
Survey/Valuation Fees £300
Accountancy Fees £475
Photography/floor plans £150
Renovation (1.) £5,250
SPV set-up £200
Total acquisition costs £9,360
Projected Sale Proceeds
Sale price (2.) £66,000
Cost of purchase £56,000
Agent’s commission (sale) £990
Company tax (3.) £1,712
Projected net gain on sale £7,298
PTC exit fee (15%) £1,095
Net profit to shareholders £6,203
Targeted net ROI to investors (6 months) 11.1%
Projected NET return on investment (ROI) – 11.1%
(1.) Renovation: new bathroom, flooring, painting, blinds, new lighting, garden works.
(2.) Based on surveyor’s report.
(3.) Corporation tax estimated at the current rate of 19%
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