Modern Penicuik flat with 7% return

Today’s buy to let opportunity will be right up your street if you are looking for a modern, low maintenance property.  It is being sold for significantly the Home Report value and it has been on the market since early August 2015 so the seller may be particularly keen to sell.

The property is at 12 Bankmill View, Penicuik.  It is a well maintained, 3 bed apartment in the modern Valleyfield development within walking distance of the city centre and with easy links to the bypass, perfect for the commuting tenant. 3 bedroom apartments in this area are renting for in the region of £825-850 pcm at the moment.  This apartment has great accommodation and an allocated parking space. 

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This property is being sold by Allan McDougall with an asking price of offers around £145,000 which is £20,000 less than the Home Report value.  As it has been on the market since early August, you should be able to get it for £145,000.  If you do your calculations on these figures, you are looking at a potential annual return of 6.8% to 7%, which is a decent return taking into account the modern, desirable, low maintenance nature for the property.

If you would like any advice on buying a property to let, feel free to pop into the office at 6 Bank Street for a chat, give us a call 01968 674601 or email us on (robert@thekeyplace.co.uk; linda@thekeyplace.co.uk).