£2,500 a week, achieved
A house that lets itself to the people who come to Northern Ireland to make film and television.
| Weekly rent achieved | £2,500 |
|---|---|
| Length of let | 12 weeks, furnished |
| Monthly equivalent | £10,833 |
| Annualised | £130,000 |
| Asking price | £1,295,000 |
| Implied gross yield | 10% |
Gross yield is annualised rent divided by asking price. It ignores costs, voids and tax.
Achieved rent
The owners let the house furnished for a twelve-week period at £2,500 per week. That is the equivalent of about £10,833 per month, or £130,000 annualised, which is a gross yield of about 10 percent on the asking price of £1,295,000. The arithmetic is £2,500 multiplied by fifty-two weeks, divided by £1,295,000.
That was a twelve-week furnished let, not a full year, and the figure is stated so a buyer can judge it for themselves. It is the owners' historic achieved rent, not a guarantee or a forecast.
Where the demand comes from
Northern Ireland has a substantial film and television production industry centred on Belfast, with Belfast Harbour Studios, Titanic Studios, Loop Studios and the new Studio Ulster all within about fifteen minutes of Cultra. Senior cast and crew on long productions look for private, fully specified houses near the city rather than hotels. The owners report regular approaches of this kind since the original let, which they have declined for family reasons. No production or individual is named on this site.
Source: Northern Ireland Screen, "Film and Television Studios".
Holding costs
The house was completed in 2021, so there is no renovation backlog. It has an EPC rating of B83, gas underfloor heating and MVHR ventilation, which keep running costs low for a house of this size. It is gated with alarm and CCTV, and is sold with no onward chain.
Viewings by appointment with the owners
Contact us directly. We will reply the same day.