Sold

Bradford – Freehold Residential Investment comprising 119 flats in total (48 remain unsold)

Luna Buildings 289 Otley Road Bradford BD3 0EG

Offers in excess of £2,650,000

Property Type:
Residential
Sub Type:
Block of Flats
Tenure:
Freehold

Description

  • Freehold comprising a total of 119 self-contained flats
  • 71 flats sold subject to Long Leasehold interests
    • All for a term of 99 years from 1 January 2006, thus having approximately 85 years unexpired
    • Each flat currently producing a ground rent of £500 per annum, hence providing a total ground rent income of £35,500 per annum
  • 48 flats remain unsold
    • Currently fully let subject to Assured Shorthold Tenancies
    • Total current rent passing £205,956 per annum
  • Total current income is £241,456 per annum
  • 83 unallocated car parking spaces available to residents
  • Opportunity to create own leases on remaining unsold flats
  • The asking price of £2,650,000 provides an attractive gross yield of 9.11%

Strictly adhering to the current social distancing guidelines, and having regard to the RICS advice, we will be carrying out viewings of a sample of flats on the following dates:

  • Friday 30th October – from 12:00 noon
  • Thursday 5th November – from 12:00 noon
  • Wednesday 11th November – from 12:00 noon

If you wish to view, please register your interest and chosen date by email (jordan.payler@allsop.co.uk) and we will send you details regarding your viewing slot and protocol.