Property Overview:
Alliance Property Group Ltd off this OFF MARKET spacious 3  bedroom lower cottage flat in excellent condition within the excellent and popular Croftfoot district of Glasgow’s south side.

** Note: The property is currently listed as being in auction but it is being offered exclusively to Alliance.

  • Property Description: The property is situated within a popular sought after pocket in the South Side of Glasgow, very close to Glasgow City Centre.

    The accommodation comprises generous reception hall, spacious lounge, dining room/bedroom three, kitchen, two double bedrooms, bathroom with bath and overhead shower and it is complimented by gas central heating, double glazing and easily maintained gardens.

    The property is well placed for many local amenities including nearby primary and secondary schooling, shopping, sporting and public transport facilities (including both buses and trains).

    Hallway Living Room 4.5m x 3.3m Dining Room 3.5m x 1.9m Kitchen 1.9m x 1.9m

    Bedroom 1 4.8m x 3.3m Bedroom 2 3m x 2.8m Bathroom
     
  • Area Description: A popular location for all types of buyer groups and ages and a very good rental demand area as well due to excellent local amenities, transport and schooling. Locally a wide variety of shops will cater for most needs, with more extensive shopping available towards Central Glasgow itself. Transport facilities in the area combine bus and rail services connecting to Central Glasgow and other destinations beyond.
    There is access to schooling locally at both primary and secondary levels, and recreational opportunities are in abundance.
     
  • Local Amenities: Locally a wide variety of shops will cater for most needs, with more extensive shopping available towards Central Glasgow itself. Transport facilities in the area combine bus and rail services connecting to Central Glasgow and other destinations beyond.
    There is access to schooling locally at both primary and secondary levels, and recreational opportunities are in abundance.
     
  • Financial Details: Financials:
    o Purchase price: £63,000

    o Home Report £70,000

    o Refurbishment: £1,000
    (EICR, Gas, smoke and CO2 Detectors, minor repairs)

    o Legals £1,000

    o Stamp Duty £1,890

    o Rental income Buy To Let – 3 Bed, Guaranteed Rent Scheme £580/month
    Or
    o But to Let/ Open Market Rent £525/month

    Costs:

    o Mortgage: Rate of 6% , 70%LTV £220/month
    (indication rate of finance, will vary per investor)

    o Letting fees based on 12%/month. £63/month

    o Insurance- Building and Contents £15/ month

    o Cash Flow:

    o Positive Cash per month – Guaranteed Rent Scheme £282/month

    o Positive Cash per month - Buy To Let £227/month

    o Gross Yield 11%

    o Nett Yield 10%

    Please carry out your own due diligence

    Comparable property advertised for sale:
    This property a few door down has just been added at offers over £80k with a HR of £85k.
    http://www.rightmove.co.uk/property-for-sale/property-71147258.html

    Comparables Sold:

    http://www.rightmove.co.uk/house-prices/G44-5HN.html

    Also here is last 5 sales in the street average sales price is £78,550 so looks a cracker at the price
    04 Aug 2017 46, Thorncroft Drive, Glasgow G44 5HN £72,000
    26 Apr 2017 56, Thorncroft Drive, Glasgow G44 5HN £90,000
    25 Jul 2016 50, Thorncroft Drive, Glasgow, Gla G44 5HN £80,000
    15 Jul 2016 16, Thorncroft Drive, Glasgow G44 5HN £70,500
    24 Mar 2016 44, Thorncroft Drive, Glasgow G44 5HN £80,000


     
  • Address: Glasgow City, Scotland 
Location:
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