- Purchase price: £780,000
- 11 apartments
- Rent: £6,600 per unit PCM
- Yield = 10.15%
Electro House was originally 3 houses and then in the 1990’s the building was converted into a nightclub.
A local developer then purchased the building in 2017 and converted the building into 11 individual residential apartments. It has a mixture of 1 and 2-bed apartments in an area of very high rental demand with property in short supply.
This developer converted it originally with the view of renting the building for himself, therefore it has been built to last with quality finishing products and appliances.
Thanks to its central location this property is only a 5-minute walk from the main train station.
Why invest in Doncaster?
In recent years, Doncaster has undergone significant redevelopment. With more jobs coming to the town, this will help “level up” Doncaster and the wider region. More companies may follow suit. It will also likely bring further investment to the area in the coming years.
Doncaster boasts a strategic location within the UK and boasts strong connectivity. The town is located at the heart of the motorway network, has a rail hub with regional, national and European connections and is home to one of the fastest-growing international airports in the UK.
London, Manchester, Birmingham and Newcastle are all less than 90 minutes away by train. And Leeds is only a 30-minute rail journey away.
With employment rates on the rise, population and rental demand are also increasing in Doncaster.
The current average house price in Doncaster is £166,149. This is an 8.4% rise year on year.
Property investors are taking advantage of the lower entry prices there. With the area slated for growth, this makes the town a great choice for property investment.
Doncaster has also ranked the 12th most profitable place to purchase a buy-to-let property investment. Only two spots behind Manchester, this town in South Yorkshire is proving to be an up-and-coming property investment hotspot with positive growth prospects.