Opportunity to acquire a portfolio comprising 16 residential properties, together with a ground floor convenience store. Located across Merseyside and North Wales, the residential properties are mainly occupied and income producing via 6-month AST agreements, whilst the commercial unit is let on a 25 year lease from 14th August 2014.
Scope exists to increase rents/value of the portfolio through refurbishment, re-gears, letting vacant space, or break-up. Offers are invited for the unbroken portfolio.
Location
Located in Liverpool, Kirkby and Llandudno
Accommodation
Comprising:
- 10 x terraced houses
- 1 x semi-detached house
- 5 x block of apartments
- 1 x shop/convenience store
See attached brochure for more information.
Terms
OFFERS - Offers in excess of £2.1m, subject to contract and exclusive of VAT.
An acquisition at this level reflects a Net Initial Yield of 8.05% after deducting purchase costs of 6.3% and a Reversionary Yield of 12.41% after letting of vacant space and regears.
TENURE - All properties are held freehold.
See attached brochure for more information
Specification
- Freehold
- Comprising:
- 10 x terraced houses
- 1 x semi-detached house
- 5 x block of apartments
- 1 x shop/convenience store
- Located in Liverpool, Kirkby and Llandudno
- Clustering of properties enables efficient management
- Considerable reversionary potential through active asset management
- Income producing with a current rent of £179,600 per annum
- ERV circa £277,100 per annum
- Offers in excess of £2.1m, subject to contract and exclusive of VAT. An acquisition at this level reflects a Net Initial Yield of 8.05% after deducting purchase costs of 6.3% and a Reversionary Yield of 12.41% after letting the vacant space and regears.