30th April 2019
Pair of rural homes offers long-term investment opportunity
Surrounded by open fields and farmland, a pair of traditional semi-detached homes in rural Leicestershire offers an excellent long-term investment opportunity, according to auctioneers.
Carl Finch, senior valuer at SDL Auctions Graham Penny, which is selling the properties at its auction in Leicester next month, believes 1 & 2 Bull Hill, Osgathorpe, would make a good addition to a property portfolio.
“With a *guide price of £250,000+ for the pair, these houses are ideal for investors looking for long-term capital growth,” he said. “The large plot means there is the potential to extend or develop the site, subject to planning permission and the tenancy.”
Sitting on land which together extends to more than half an acre, each of the properties has two bedrooms, large lawned gardens, outbuildings and a driveway. No. 1 comprises a porch, lounge/dining room, kitchen, shower room and two bedrooms. No. 2, which is vacant, has a reception hallway, lounge, kitchen, bathroom and two bedrooms.
The tenanted property, No 1, is let on a regulated tenancy which pre-dates the introduction of Assured Shorthold Tenancies, giving the tenant more rights and a below market value rent; in this case an annual rent of around £4,134.
But the restrictions of the tenancy should not deter investors, says Carl: “Properties with regulated tenancies are priced accordingly, which is why these two lovely rural homes have a combined guide price of £250,000+. When the tenancy ends, the property can rise in value and a market rent can be charged.”
Both of the houses would benefit from some refurbishment, which would also add value and, until the regulated tenancy of No 1 ends, there is still the option to extend or develop the site of No 2, subject to planning permission.
The properties lie between the villages of Osgathorpe and Worthington, with good road links to Ashby-de-la-Zouch, Leicester, Nottingham, Derby and Birmingham. The nearest railway stations are at Loughborough and East Midlands Parkway, both around 20 minutes’ drive.
In addition, there are two international airports within easy reach; East Midlands Airport is less than 10 minutes’ drive away, while Birmingham Airport can be reached in 35 minutes.
Closer to home, the village of Worthington less than a mile away and has a pub, primary school, churches and a post office. Supermarkets and other amenities can be found at nearby Shepshed, Coalville and Ashby-de-la-Zouch.
The Osgathorpe houses will be sold as a pair at the King Power Stadium, Leicester, on Tuesday 21 May, alongside an array of houses, flats, offices and land. Entries into the auction are still being accepted for the next few days so, for more information, or a free property appraisal, click here or call 0116 254 9654 to speak to the auctions team.