For Sale

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