Key Features
Recently constructed apartment block of 20 units – fully let
Well managed and maintained externally and internally
Located in areas of high rental demand close to the city centre
Fully let producing a projected gross annual income of £216,060, gross monthly income £18,005 for year ending November 2025
Based on a purchase price of £2.75m, the portfolio will produce a Gross Initial Yield of 7.38%, after purchasers acquisition costs of 6.03%
Reversionary income – potential to grow rents
Description
REVERSIONARY FULLY LET RESIDENTIAL BLOCK COMPRISING 20 APARTMENTS PRODUCING A GROSS RENTAL INCOME OF £216,060 PA WITH POTENTIAL TO GROW TO £231,900 PA
Property comprises 20 apartments within a modern, purpose built block (19 no. 2 bed apartments, 1 no. 1 bed apartment) with on site parking for 8 vehicles.
Built in 2021 the property is arranged on ground and 3 upper floors with a roof terrace, served by a lift.
All apartments are separately metered for gas heating and electricity.
We understand the property is fully let and will produce a gross annual income of £216,060 pa. to Year End November 2025.
PRICE
Offers invited in excess of £2,750,000. A purchase at this level would represent a Gross Initial Yield of 7.38% and a Gross Reversionary Yield of 7.92%, after purchasers acquisition costs of 6.03%.
Domestic rates payable (non-recoverable) for the current year are approximately £13,500.
LOCATION
Situated to the east of Belfast city centre in an area which is mixed use in character with a doctors surgery, retail units, owner occupied residential, ‘buy to let’ residential and social housing stock all represented nearby.
Favourite
Make an Offer
Book a Viewing
Get a Mortgage
Call the Office
Share