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PEOPLE looking for a good return on their investment may be interested in a new deal from house builders Barratt.
The company has introduced a “sale and leaseback” scheme on a selection of showhomes in the North East. The developer will sell the properties to investors then rent them back to use as showhomes for three years.
The scheme guarantees a 7.5% annual return which could be worth up to £24,000 a year.
Barratt North East investment manager Linda Graham said: “We believe the sale and leaseback scheme represents an outstanding investment opportunity, offering a very attractive return worth up to £73,000 over three years.
“We pay all the outgoings and fully maintain the showhome, and at the end of the agreement the buyer is free to find another tenant or sell the property.
“The purchaser has an immediate tenant and a guaranteed income plus the added security of knowing that the property will be looked after during the lease period. We are continuing to sell to investors, who see our homes as a good investment. Where else can you get a 7.5% annual return?”
Investors will receive a rental return of 7.5% a year, paid monthly, and Barratt will also meet all outgoings and maintain the properties during the period.
Barratt North East is offering the scheme on 10 new showhomes at four developments: Fellview, Consett; The Sidings, Blackhall Rocks, both County Durham; Lyons Park, Hetton-le-Hole, Tyne and Wear; and Riverside Crescent, Blaydon, Gateshead.
Prices range from £145,000 for a three-bedroom semi-detached home to £325,000 for a five-
bedroom detached home. For details, telephone 07841 570039.
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