Features
- Freehold residential investment opportunity with asset management potential.
- Excellent location close to Blue Coat School, JLR & easy access to city centre.
- Comprises 12 x 2 bedroom self contained flats.
- Currently producing £91,188 per annum, rising to £121,788 pa once fully let.
- Ideal portfolio addition.
- Hands off investment.
- Guide Price: Offers in excess of £1,500,000, equating to a current gross yield of 6%, increasing to 8% once fully let
Description
The opportunity comprises an unbroken parade of 12 x 2 bedroom self contained apartments, set back beyond foregardens and low level retaining brick walls. Each property is serviced by electric heating, mains water, and comprise 2 bedrooms, bathroom, kitchen and a lounge/sitting room.
Location
The properties occupy an end parade position on Humber Road at it’s junction with Terry Road, approximately 1.5 miles south east of Coventry City Centre. The location affords excellent and easy access to the city centre and is within walking distance of Coventry University and less than 1 mile from Jaguar Land Rover.
The M1, M6, M40, M42, M45 and M69 motorways are all within a seven mile radius, each accessed by the A45 or A46 trunk roads.
Coventry is a cathedral city located in the West Midlands in the heart of the Golden Triangle. It is the ninth largest city in England with a population in excess of 360,000 and a GDP of over £11 billion. This is largely driven by the advanced manufacturing and engineering sectors, given its strong geographic location and access to a large employment catchment. The area is home to a number of major companies such as Jaguar Landrover, Walkers Crisps, Unipart, Royal Mail, Travis Perkins and B&Q.
Tenure
Freehold
Tenancy
The property currently produces £91,188 per annum , with a potential income of £121,788 per annum once fully let. A full breakdown of the rental income can be found within the marketing brochure.
Price
Offers in excess of £1,500,000, equating to a current gross yield of 6%, increasing to 8% once fully let.
VAT
We are advised that VAT is not applicable but purchaser’s should satisfy themselves in this regard.
EPC
Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
