A property described as London’s smallest flat allegedly has a rental yield of 10 per cent - yet it cannot be mortgaged.
The newly renovated converted Victorian studio in Hackney measures just 75 square feet.
The first floor flat has room for a captain’s-style bed with cupboards and shelves, a microwave underneath and space for a fridge, fold out table, sink and separate private bathroom.
My Auction, the online auction house which sold the property, claims that at the sold price of £90,000, the property would provide a rental yield of 10 per cent a year.
But the company says that because of its size the flat cannot be mortgaged.
The flat comes with a long leasehold of 994 years.
My Auction director Stuart Collar-Brown says: “This property has attracted a significant level of attention, largely from buy to let investors who recognised the substantial return potential.
“The flat might be small, but its highly functional and with such disparity of good quality stock in the rental market and the number of potential tenants, properties like this don’t hang around for long.”
We're excited to announce that we're working on building a shiny new website for readers of Landlord Today! As part of this process, commenting on articles will be temporarily disabled. We look forward to sharing our new and improved Landlord Today website with you shortly!
Following the introduction of new HMO licences in Hackney, east London,...
A favourite route for a landlord acquiring properties - at auction...
A London Labour council is putting an extra £400,000 into enforcement...
Rogue landlords in one area of London could face unlimited fines,...
.png)
The UK property market is on the cusp of significant change...
Landlords, if you haven't heard of it until now, it's time...
(1).png)
As a seasoned landlord, you've likely witnessed the UK property market's...
Managing rental properties, whether you have a few or a dozen,...
Congratulations on taking the leap into becoming a landlord! Property investing...
Twenty twenty-four is a pivotal year for landlords in the Private...
There wasn’t much by way of good news in the Spring...
National Landlord Investment Show has announced that the former Leader of...
We are thrilled to report that the first National Landlord Investment...
Landlords play a crucial role in providing safe and comfortable housing...
.jpg)
Calling all landlords, Investors and property professionals: National Landlord Investment Show...
In the buy to let market, success goes beyond the transaction...
Mohammed Sharaz, a landlord from Bradford, recently seized an opportunity to...
We believe a well-functioning housing system is one that meets everyone’s...
If you are a landlord looking for the silver lining in...
This year is set to bring sweeping rental reforms that will...
Landlords are exiting the market in droves. According to an accountancy firm...
%20(002).png)
Newable Finance, the finance brokerage & advisory arm of Newable, launches...
Homes in the rental sector are more likely to have old...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you, and what does it say on...
