Opportunity to invest in this tenanted studio flat located in Taunton. Currently tenanted, generating a NET return of 5.3%
Katie Thompson | 17th November 2021
This 1 bed apartment/studio is available with a tenant in situ and a current managing agent who has been recommended by the current landlord. The locality of the property is less than a 5-minute walk to the centre of town and a 10-minute walk to the hospital. These types of rental properties are sought after and don’t often become available to rent due to tenants staying long term.
Current tenant is a nurse who works at the local Hospital, many tenants in these types of properties we are told work for the local Hospital. The tenant has been there for around 2 years already and is more than happy at the apartment. The letting agent has contacted the tenant to reassure her regarding the sale process and she is comfortable with everything. There is a rolling contract currently as the original tenancy started on November 2020 for 12 months and has now expired. The option is there for a new landlord to look for a new tenant at a higher rate or to renegotiate the rent with the current tenant.
Reason for selling
The landlord is slowing looking to sell off her portfolio as she is at an age where she wants to wind down. She has had this property for over 15 years and had around 4 tenants overall. She was considering leaving the property to her son but he has now also decided to sell a large proportion of his portfolio also.
Contact us today for further details on 0161 337 3890. Alternatively, you can email us on firstname.lastname@example.org