Website's I've got from googling this development don't look profesional and £2.5k agency charges on a £16k property seem steep. You can bet locals won't be paying that.
Have you visited the location these apartments are to be built? Are you happy renting to locals? (It is likely that few if any tourists will be interested.) Are prices reasonable when compared to existing apartments there? Considered going directly to the developer so that £2.5k agency fees aren't applicable? (I've nothing against agents that are worth their weight, but your choice of words suggest these probably won't be.)
Also consider maintenance costs. These might be similar (£) as for apartments costing two or three times that, but when expressed as a % of purchase price they will be higher for yours. That can quickly erode yield.
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