Sold
Reversions Portfolio – A unique opportunity to acquire a substantial Ground Rent Portfolio
Price on Application
- Property Types:
- Portfolio, Residential, Student
Description
- 35 modern purpose built developments of which 27 are held freehold
- 57% located in the cities of Birmingham and Manchester
- Ground rent income received from 3,685 units (3,540 flats, 11 commercial units, 8 rent charges, 126 car parking spaces)
- Residential leases with unexpired terms of no less than 105 years
- Total ground rent £906,399 per annum
- c.90% of rents are subject to indexed reviews (PSAEI and RPI) predominantly 10 yearly
- Average time to next review c.9 years (on a weighted average basis) with indexed growth to date of 33%
- Residents management companies in place on 7 developments
- Right to insure on 25 developments
- Significant additional income streams including management suite rental
- Corporate transaction available
Best bid deadline 4pm Friday 21 July 2017
Subject to contract