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Residential Investment Opportunity – The Edgecom Estates Portfolio
The Edgecom Estates Portfolio - Yeovil & Crewkerne, Somerset
Offers in excess of £3,500,000
- Property Type:
- Residential
- Tenure:
- Freehold
Description
A well established high yielding portfolio comprising 12 HMOs
- 12 Freehold HMOs with eleven in Yeovil and one in Crewkerne
- A total of 82 lettable rooms
- Eleven properties let subject to ASTs and one let subject to a 5 year lease to Bournemouth Churches Housing Association
- Each property benefits from an HMO License
- Current Gross Rent Reserved: £333,092 pa
- ERV (if fully let) at Market Rents subject to ASTs: £393,796 pa
- Additional Sundry Income of circa £2,500 pa
- Offering significant potential for extensions to create up to 14 additional lettable rooms (subject to planning)
Offers in excess of £3,500,000 are invited for the Freehold interest subject to the existing lease and tenancies, subject to contract.
An acquisition at this level would reflect a gross initial yield of 9.5% and a gross reversionary yield (based on ERV) of 11.25%
Subject to contract