This amazing opportunity to purchase spacious 4-bed, 4-storey townhouses within a gated community in the centre of Newark was secured for our investors as a direct result of the pandemic.
Newark is a thriving market town located just off the A1 on the east side of Nottinghamshire. A historic and picturesque market town, Newark boasts many heritage attractions and activities.
Having built 15 houses in all at Bainbridge Court, the developer wanted to move on to their next project but was unable to do so until all 15 properties were sold. At the beginning of the pandemic the market suffered an initial slow down. So PIP stepped in and secured the remaining 7 properties for the discounted price of £222,995, at an incredible saving of £42,000.
Local Estate and Lettings Agent, Whitegates, confirmed that these properties were in a superb location, with great transport links and a strong rental demand. Newark has 2 train stations, both within 1.5 miles of the development, with train journeys to Kings Cross taking just 1 hour 15 minutes.
Understandably, demand was high, with all plots reserved within days of launch.
Whitegates were confident that these properties would achieve monthly rental amounts of £1,000 - £1,100, translating into gross rental yields of up to 5.9%. In fact, confidence was so strong that the developer gave a 12-month rent guarantee period to all investors of £1,100 pcm. As a result, investors experienced zero rental voids from the moment they completed for a whole year.
The properties themselves came with flooring throughout, integrated white goods, turf and fencing. Plus an integral garage and parking.
We were so excited at PIP that we went on a road trip to view the properties first-hand, and we were not disappointed. The sizes and layouts were perfect for any family, with four generous double bedrooms, including a master ensuite, two further family-size bathrooms, a WC and a fabulous garden room. The kitchens and bathrooms were beautifully appointed, and the overall décor was contemporary and stylish.
We made a video of one of the properties to share with our investors and the feedback was phenomenal, with all clients thrilled with their investment property.
Request a Callback
Please fill in the form below and one of our team will get back to you soon.