Barrat Homes iPAD apartments in Pontypridd

Over the last few months I've had a number of investor conversations regarding Barratt Homes' College Green development in Rhydyfelin, Pontypridd. It's a new build development and includes a number of 1 bedroom iPad apartments. 
 
The initial build had 12 apartments, with further release available at the end of the year 
 
My view is that the iPad apartments at College Green offer something unique. They appeal to tenants looking for high quality modern apartment living and there is nothing similar in or around the Pontypridd area.

Initially we estimated the potential rental yield and a number of investors decided to purchase. Belvoir has now been involved in 4 lets at College Green with another 2 in the pipeline. This experience has given us a unique insight into the actual tenant demand and investor return for this type of property. 

ACTUAL DEMAND FOR 1 APARTMENT

·   ENQUIRIES - Over a 2 week period 29 enquiries were received.

·   VIEWINGS - 3 initial viewings were performed.

·   APPLICATIONS - 2 applications to rent were received.  

RETURN
 

       RENT – Actual monthly rental achieved has been between £465 to £485, providing an annual rental income of between £5,580 to £5,820.
 
       GROSS YIELD – 6.7% to 7.2%.   

OTHER INVESTOR POINTS

• 10 year NHBC warranty.
• 5 year warranty available on electric and plumbing, reducing unexpected costs.
• Unique living that appeals to a wide range of working tenants
• Excellent location for local workers, Cardiff commuting and access to M4. 

 

SUMMARY

The College Green iPads definitely have investor appeal. Investors have ranged from first time Landlords to others who already have good property portfolios. They have a very affordable entry price and being new 1 bedroom apartments require little in the way of maintenance. What can be said, is that every investor has been delighted with their purchase.  

College Green Pontypridd -
http://www.barratthomes.co.uk/new-homes/rhondda-cynon-taff/H430601-College-Green/

Belvoir Lettings Cardiff -
http://www.belvoirlettings.com/letting-agents-Cardiff