For Sale

Southport – Attractive majority let freehold residential investment opportunity

Warren Court, Southport, PR8 2DE

Offers in excess of £5,000,000

Property Type:
Residential
Tenure:
Freehold

Description

  • Freehold
  • Comprising 54 flats (52 x two bed, 2 x one bed)
  • Majority let subject to Assured Shorthold Tenancies
  • Located in the affluent coastal town of Southport, Merseyside
  • Total Current Rent Reserved: £353,980 per annum
  • Total Estimated Rental Value: £408,600 per annum
  • Potential for additional storeys through PD (subject to necessary consents)

Offers in excess of £5,000,000 are invited for the Freehold interest, subject to all existing tenancies, subject to contract.

A purchase at this level would reflect a gross initial yield of 7.08% (based upon passing rent) and 8.2% (based upon ERV).

Subject to contract