Latest deal April19 Droyslden

Dear Client,

We have secured a Waverley Crescent true 2 bedroom semi at £132000. 
The price on this is probably correct, taking into account it's high spec,  although because there is not much to compare it with a valuer might put it slightly lower or higher.
We successfully manage a house across the road on Waverley crescent, and several others quite nearby.
It is a street mixed with quasi semis, semis, and detached, and many have built extensions.  The proportion of owner occupiers to renters must be very high (I would hazard a guess that it is 70% owner occupied) and I like this street.  It is an attractive street and there is good potential for growth.  It should be able to attract a good quality tenant at perhaps £725pcm since it is in very good  owner occupier condition.

Click on the link below for the agent's particulars

Approximate financials

Purchase price £132000
Stamp Duty £3750 + £350 = £4100.
Intro fee £2500
Legals £1250
Works allow £2000
Survey £350
So allow £142000 approx.
Expected gross income £725pcm = £8700  = 6%
Expected net income allowing 10% management and £750pa average maintenance = 5%.

The market is still strong over here, it was put on the market at £135,000 just this month, and since we know the area well, and we believe in the location,  we got them to take it off the market at £132000 as soon as we could.

This is a superior property to our regular buy-to-let standard, and the slightly lower return than otherwise is more than made up for by the quality of the house and the location, leading to higher growth potential than on a higher return property.  

We do need, therefore, a quick decision.  It is in my judgement a very good investment, and it should do very well for you, with hopefully minimal maintenance.

Please get back to me asap.

With best regards,



Mayfair Management (UK) Ltd
Manchester M45 8QP
T. 0161 767 9055  F. 0161 796 7189
email (general)
email (david)