This fully tenanted investment property offers an established rental income together with excellent opportunities for future expansion and long-term capital growth. Comprising a diverse mix of residential and commercial accommodation, the property is well suited to investors looking for a secure income stream with further upside.
The property currently consists of 34 fully let residential flats, 37 tenanted rooms with shared communal facilities and three commercial units occupied by a church, a retail shop and a sewing business. It is being sold as a going concern, allowing a purchaser to benefit from immediate rental income from an established tenant base.
Approved plans are already in place for the development of an additional 16 basement flats and four ground-floor flats, providing significant potential to increase the property's rental yield and overall value.
Positioned in an area where several large student accommodation developments are located directly opposite and adjacent to the property, it also presents an opportunity for conversion or redevelopment to cater to the growing student housing market, subject to the necessary requirements.
Further features include a borehole water supply, prepaid electricity meters installed throughout the property, secured approvals for future expansion and financial information available to purchasers on request.
Offering an existing income stream, development potential and multiple options to enhance returns, this is a versatile investment in a well-established location.
Disclaimer: Whilst every endeavour has been made to ensure the accuracy herein, no liability will be accepted for any errors or omissions.