Under Offer

Halifax – High yielding residential investment

Southgate House, Wards End, Halifax, HX1 1DE

Offers in excess of £2,300,000

Property Type:
Residential
Sub Type:
Block of Flats
Tenure:
Long Leasehold

Lease Term

Head Leasehold interest comprising 51 self-contained flats. The property is held for a term of 999 years from 18 March 2016 (thus having approximately 996 years unexpired). We understand the
ground rent payable is peppercorn.

The current Freeholder is Gallyville Ltd.

Description

  • Head leasehold (996 years unexpired)
  • Comprising 51 self-contained flats, arranged as follows:
    •  9 x studio apartments
    • 39 x one bed apartments
    • 3 x two bed apartments
  • Centrally located in Halifax town centre adjacent to the Westgate Shopping Arcade
  • Current Rent Reserved: £232,980 per annum
  • Estimated Rental Value (fully let): £254,340 per annum
  • Gross Yield: 11% (based on ERV)