Sold

South Yorkshire – Landmark Residential Investment opportunity in the centre of Barnsley

Gateway Plaza, Barnsley, S70 2RD

Offers in excess of £10,600,000

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

Description

  • Residential Investment Opportunity
  • Landmark mixed-use development in Barnsley Town Centre
  • 129 Long Leasehold apartments and 120 car parking spaces
  • Passing rents of£905,700 per annum inclusive of car parking income
  • ERV of £932,292 per annum (on the basis of apartments and car parking being fully let)
  • Strong rental history, currently with only 1 void (99.2% occupancy)
  • Opportunity to hold as a stabilised investment or a break up opportunity
  • Gross initial yield of approximately 8.47% on current rent passing at the guide price which represents an attractive discount to break-up pricing