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Buy to Let Portfolio of 8 Flats in a Single Block - Lorimer St,Dundee

Here is an unusual one that a local landlord of mine highlighted to me; it's an entire block of 8 one bedroom flats being put on the market by Blackadders.

Here is an unusual one that a local landlord of mine highlighted to me; it’s an entire block of 8 one bedroom flats being put on the market by Blackadders. Now I know this street well, its not the most salubrious part of Dundee but its not the worst either.

Block of 8 Buy To Let Flats in Dundee

The price seems very reasonable which means I would want a really good look round and a surveyors report before I made any decisions. That said at £45,000 per flat it seems like a good investment, the advert says it’s a ‘going concern with high average yields’, what that actually means I don’t know, does it have sitting tenants or is this a guestimate based on local rents?

I know from my own experience that an average one bedroom flat on this street will rent out for around £300 - £340 depending on the flat and the block. If these are in good condition and so is the block they should easily do that, which means a yield of over 7% at the least.

All of this I like but as a naturally suspicious person I would want a good mooch about first.

If you have any questions about the above or anything else to do with the Dundee lettings market please don’t hesitate to contact me at nick.horan@belvoirlettings.com.

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