With an increasing number of over-65s in privately rented housing – and the figure set to increase – buying a retirement flat to rent out could be a good asset to invest in. Network Auctions are offering a one-bedroom flat in Homemanor House, Watford with a guide price of just £40-45,000.
Toby Limbrick, auctioneer, said, ‘I don’t remember the last time I saw a flat in Watford this cheap – it must’ve been the 1990s! Of course, you do need to be 60+ to occupy, but there are no age restrictions on the owners and no restrictions on sub-letting.’
‘This first floor flat is in a popular purpose-built retirement complex and current rents are around £900-£950pcm, producing an annual income in the region of £10,800+.’
The well-presented property is being sold By Order of the Executors and benefits from an entry phone system, access to lifts, residents lounge, laundry room, on-site warden, landscaped gardens and parking for residents and guests.
29 Homemanor House, Cassio Road, Watford, Hertfordshire, WD18 0QS will be sold on 8th December online with Network Auctions. For more information: www.networkauctions.co.uk