Under Offer

Southampton – Residential investment comprising 12 self-contained flats

Ashwood Court, 4 Hulse Road, Southampton, Hampshire, SO15 2JX

Offers in excess of £2,350,000

Property Type:
Residential
Tenure:
Freehold

Description

  • Freehold
  • 12 x two bedroom flats
  • 5 garages and parking for up to 16 cars
  • Overall GIA of the flats (excluding common parts): 7,844 sq ft (728.73 sq m)
  • Fully let subject to Assured Shorthold Tenancies – average occupancy period of 24 months
  • Total Current Rent Reserved: £124,800 per annum
  • Estimated Rental Value (fully let): £135,500 per annum
  • No arrears
  • Popular residential area within walking distance of the city centre

Offers sought in excess of £2,350,000 for the Freehold interest, subject to the existing tenancies and subject to contract.

An acquisition at this level would reflect a gross initial yield of 5.31%, a gross reversionary yield of 5.76% (based on ERV) and a low capital value of £299 per sq ft.

Subject to contract