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:
- 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