I had a call from a client today who was looking at the possibility of buying this property as a buy to let investment:
VIEW THE PROPERTY HERE
|Stunning views right?|
Here is the description from the agent:
Offering a high level of luxury and specification that is rarely experienced, The Hamptons truly is waterside living at its finest with the buzz of the City just a heartbeat away.
The Hamptons is an exclusive gated residence which combines a highly desirable location, overlooking the picturesque Gillingham Marina and enjoying breath-taking panoramic views across the water. The individually designed and stylish apartments maximise space and light, to create a welcoming and contemporary ambience, which is ideal for entertaining or simply as a place to relax and escape the hubbub of modern life.
The penthouse apartment has an open plan living/dining room, bright and airy with fully glazed floor to ceiling bi fold doors leading to the private terrace area. The high specification kitchen is complete with Siemens integrated appliances, which makes the penthouse apartment the ideal entertaining venue which will be the envy of all your friends. It even has its very own sun terrace.
With two secure underground parking spaces, landscaped gardens, 24 hour manned security, as a resident of The Hamptons you can receive piece of mind all year round.
With the buzz of the London living just a heart-beat away, 45 minutes into St Pancras from Chatham train station 3 miles away from the development; The Hamptons is an ideal proposition for commuters or day trippers.
The property is also described as a duplex, meaning it is set over two floors.
This is a beautiful apartment and we would be looking to achieve a monthly rental of £2000. This would provide a gross rental yield of just over 5%. Obviously, when looking at rental yield there are a number of other factors that you need to account for. These include service charge, agent fees and any ongoing maintenance. The latter should be very low as it is a brand new property and so will come with the benefit of having an NHBC guarantee.
My advice to the client was as follows; there may be other properties that offer better yields but it is also possible that high-end, new build apartments like this COULD offer better capital appreciation. I explained to the client that to in order to properly assess whether or not this property is a good fit for them. that I would need to meet with them briefly to discuss their hopes and aims. I am meeting them next week and hope my advice will assist.
If you have any properties you are considering buying to let, buying to flip or buying to develop, I am always happy to offer an impartial and expert opinion. Feel free to email me HERE