This property presents a noteworthy investment opportunity, comprising 11 fully occupied flats that collectively yield a substantial net income of approximately £100,745. Each unit is currently rented out, providing steady cash flow while offering potential for future growth.
The accommodation includes a variety of unit sizes, with each flat generating consistent monthly rental income. Tenants cover most utility expenses, allowing for streamlined management and predictable revenue streams. The current rental arrangements are as follows:
- **Flat 1**: £650/month
- **Flat 2**: £750/month
- **Flat 3**: £700/month
- **Flat 4**: £700/month
- **Flat 5**: £750/month
- **Flat 6**: £800/month
- **Flat 7**: £750/month
- **Flat 8**: £800/month (includes council tax)
- **Flat 9**: £750/month
- **Flat 10**: £800/month (includes council tax)
- **Flat 11**: £750/month
In addition to its current income-generating capacity, the property holds significant renovation and development potential. There is the possibility to extend the existing building or construct a mews house in the garden area, contingent upon obtaining necessary planning permissions. Such enhancements could markedly increase the overall value and profitability of the property.
Situated in a highly sought-after central location, this investment benefits from proximity to essential amenities and services, making it attractive to prospective tenants. The area’s desirability can lead to high occupancy rates and stable rental demand.
Overall, this property not only serves as a robust source of current income but also offers avenues for strategic investment growth through renovations or expansions. With careful management and vision, this could be an exceptional asset in your portfolio.
