What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£6,540
ROCE22%
Yield12%
Purchase £ £31,890
Property description
Strategy: Buy to Let
Turnkey BTL in Glasgow (West End)
Home Report Valuation Available
A great opportunity to secure a high yielding, below market value investment in one of Glasgow’s most popular and consistently in demand rental areas. This is a strong hands off investment with excellent long term tenant appeal.
Rental Performance
• Expected rent: £925 pcm / £11,100 pa
• In line with current market rents
• Strong ongoing demand from professional tenants due to the sought after location
Located in the popular Scotstoun area of Glasgow’s West End, the property is within walking distance of cafés, restaurants, shops and local amenities. Excellent transport links provide quick access into Glasgow City Centre, making it a highly attractive rental location.
Property Overview
This charming cottage style two bedroom upper floor flat extends to approximately 56 sq m and requires only minor upgrading to become fully rental ready, making it ideal for investors looking for a straightforward project with quick turnaround potential.
The accommodation includes a welcoming entrance hallway, a spacious lounge with dining area, a modern fitted galley kitchen, two good sized double bedrooms and a modern three piece bathroom. Additional benefits include double glazing throughout and a large communal rear garden.
Parking: Unrestricted on street parking
Garden: Rear communal area
EPC Rating: E
Tenure: Freehold (absolute ownership)
Example BTL Mortgage Figures
5 year fixed | 75% LTV | 5.05% interest
• Purchase price: £83,000
• Mortgage: £62,250
• GDV: £90,000
• Additional Dwelling Supplement (ADS): £6,640
• Refurb costs: £2,500 (electric heating upgrade)
• Legals: £1,500
• Sourcing fee: £3,000 + VAT
Total investment required: £35,535
Estimated annual profit after deductions: £6,540
Based on mortgage payments of £284 pcm, maintenance costs of £45 pcm and insurance at £50 pcm.
Projected Returns Over 6 Years
• Capital growth projection at 5% per annum: £30,608
• Net rental growth projection at 2% per annum: £42,080
• Total projected profit over 6 years: £72,688
• ROCE: 205%
With a below market value purchase price, strong rental demand and solid projected returns, this property would make an excellent addition to any investment portfolio, particularly for buyers looking for reliable passive income and long term growth.
For further information or to discuss the opportunity in more detail, please get in touch.
Sourced reference: 869858968814617
Due diligence
No information supplied.
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
Profit pa£6,540
ROCE22%
Yield12%
Purchase £ £31,890
Sales Agent
Michael Haguinet
August Place Property Ltd
Smart support to move your deal forward
Review the numbers
We've pre-crunched the figures for you.
What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network