Daycroft Apartments , Barnsley, South Yorkshire, S71 5SE
7,815 Sq Ft (726.01 Sq M)
Offers in Excess of £1,150,000
Residential Apartments
Key Features
HIGH YIELDING UNBROKEN RESIDENTIAL INVESTMENT
12 x 2 BEDROOM APARTMENTS
INCOME OF £91,500 PER ANNUM
RENTAL GROWTH POTENTIAL
ASKING PRICE: £1,150,000 / 8% YIELD
ALL B RATED EPCS
General Description
FOR SALE - UNBROKEN FREEHOLD RESIDENTIAL BLOCK INVESTMENT COMPRISING 12 X 2 BEDROOM APARTMENTS WITH SECURE PARKING AT 8% YIELD
High yielding freehold block of 12 x two-bedroom apartments in a desirable residential area with car parking
Generating a combined rental income of £91,500 per annum providing a low average rent of £635 pcm held on AST agreements
Excellent growth potential
Potential ERV of £100,800 per annum (£700 pcm per flat) 'as is'
Good standard of accommodation
Spacious, good quality and well-maintained apartments with 50% with en suites
All B rated EPC - very energy efficient
Secure car park
Apartment sizes range from 55 to 67 Sq M (592 to 721 Sq Ft) GIA.
Asking for offers in excess of £1,150,000 reflecting a gross yield of 8% and potential reversionary yield of 8.76%
DESCRIPTION
Twelve spacious two bedroom apartments providing good quality accommodation over three floors, with secure parking for each apartment.
Each apartment is equipped with large double bedrooms (six have ensuites) bedroomed with a large living room and bathroom. Each is equipped with a bath, shower and fitted kitchen. There is double glazing and central heating system throughout.
Externally there is secure off street parking within the car park, each apartment benefitting from one space.
This provides an excellent opportunity for an investor to benefit from a high yielding return with potential for further rental growth and asset management opportunities.
LOCATION
The property set within a desirable, modern housing residential development within Monk Bretton area of Barnsley.
The property is close by to local amenities and provides excellent connectivity to the wider areas.
Barnsley city centre is located approximately 3 miles to the South West via Burton Road.
ACCOMODATION
Apartment sizes range from 55 to 67 Sq M (592 to 721 Sq Ft) GIA.
Total GIA (excluding corridors and communal space) is 726 Sq M (7,815 Sq Ft)
Please contact the agent for a full breakdown. Floor plans available upon request.
TENANCY/RENT ANALYSIS
Total passing rent: £91,500 per annum
Apartment rents range from £575 to £700 pcm with the average being £635 pcm - providing excellent opportunity for growth
The flats are held on 12 month Assured Short hold Tenancy Agreements - copies are available upon request.
We consider the Estimated Rental Value to be an achievable £700 pcm per apartment, which would provide a total ERV of £100,800 per annum.
With a modest modernization of the apartments we expect the rents could be increased further to circa £800 pcm
GUIDE PRICE
Inviting offers in excess of £1,150,000 reflecting a gross yield of 8%.
Reflecting a reversionary yield of 8.77% assuming an ERV of £100,800 per annum.
EPC
All B Rated EPCs.
AML
Purchasers will have to supply information to comply with Anti Money Laundering Regulations.
VIEWINGS
By appointment with the Sole Agents below:
Ben Flint
07494735001 01302 639838
ben@flintrealestate.co.uk
Alexandra De Freitas
07538844869 01302 639838
alexandra@flintrealestate.co.uk