Opportunity to acquire a newly developed residential investment comprising 24 apartments.
The existing property comprises a newly converted, former show factory of traditional brick construction, comprising 24 apartments arranged from lower ground to third floor.
The 24 apartments comprise 20 x 1 bed & 4 x 2 bed and extends to a total area of approximately 13,089 sq ft NSA.
All units have been finished to a very high standard throughout, including gloss white kitchen units, lift access to all floors and each apartment comes with a 10-year ICW building warranty.
4 apartments (apartment 7, 8, 14 & 22) have inclusive parking.
The property is let on AST’s and generates a combined passing rent of £240,960 per annum, reflecting an initial yield 7.53% at the asking price.
We are of the opinion that the property has an ERV of £247,200 per annum, reflecting an initial yield of 7.73% at the asking price.
Location
The property is located on Mill Road, Wellingborough and is within a 13-minute walk to Wellingborough railway station, providing services to St Pancras International within 56 minutes
Accommodation
Total area of approximately 13,089 sq ft NSA.
Terms
Tenure - Freehold
Price on Application