I like the look of this 3 Bedroom link detached house in the Wymans Brook area of Cheltenham. We have recently let a couple of properties in the area and this should let for £795 PCM. The property is on the market with Peter Ball & Co for £195,000. Therefore you should see a yield of 4.9%. That's a reasonable yield and don't forget that this sort of property will appeal to families who tend to stay longer which means fewer voids.
This is what Peter Ball have to say: Draft particulars (awaiting vendor approval). A three bedroom link detached family home situated at the end of a popular cul-de-sac and within close proximity to local amenities. The accommodation comprises an entrance hall with a door to the living room and stairs leading to the first floor. The living room measures at max 15'7 x 11'5 (max) and opens to the dining room which benefits from sliding patio doors to the rear garden. The modern kitchen consists of a range of wall and base level units, work surface over, ceramic sink/drainer inset, tiled splashbacks, extractor fan, space for appliances and doors to an understairs cupboard and to the side access. On the first floor are two double bedrooms, with the master including built-in cupboards, a well proportioned single bedroom and a modern bathroom comprising panel bath with shower over, pedestal wash basin, W.C and tiled surrounds. To the rear of the property is a low maintenance block paved garden with gated access to off road parking and a car port with a door leading to a workshop. To the front is a lawned garden with planted borders. The property further benefits from gas central heating and double glazing.
I say that you should not discount this type of property as a buy to let investment. OK you may get better monthly yields elsewhere but look at the bigger picture. Steady yield, few voids, appeals to good quality tenants, potential long term capital gain. If you would like more advise regarding buy to let investments in Cheltenham or Gloucester please contact me.
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