Locke Close , Aylesbury...a great buy?

This property is about to be taken to auction on 10th September via Network Auctions in Watford, follow the link for fuller details

http://www.rightmove.co.uk/property-for-sale/property-35992446.html

 I sold many of these flats from new when they were first built and from memory they are not very big but they do represent good value and have the unusual benefit of a garage. I have no connection with this property nor the sellers but thought readers of this blog would like to know that this is an available opportunity.
 The ground rent and management fees are ok and this one has a tenant in occupation already paying £550pcm, £6600pa. This gives a healthy yield of 7.17% based on the guide price of £92,000 (Aylesbury average 4%).
You may have to pay slightly over the guide but equally the rent is a little below market levels and could  presumably be increased to a higher level in time.
Remember the rules...the higher the yield the lower the capital growth. However if you are just starting to invest, want to add some variety to your portfolio and/or have a limited budget this is not a bad place to start.
If you want to talk through this or other opportunities in Aylesbury in detail please email me ian@mortimersaylesbury.co.uk