High Street

Pure Investor is delighted to bring to the market twelve newly developed apartments for sale in Gosport. The developer has a deal in place with a care provider who will take on the rental of the apartments at a fixed rate for five years. The apartment block will be sold with this deal in place. Information on the care company can be provided once a suitable buyer has been fully vetted. Currently, there are three apartments tenanted with one apartment being used as a site office. Four more tenants are due to move in during February and the remaining apartments filled within three months. The development is under one title deed with all of the apartments on separate leases.

INVESTMENT INFORMATION
- Asking Price: £2,500,000.00.
- Current Rental Income: £187,200.00 per annum.
- Gross Yield: 7.5%.
- Net Yield: 7.5%.
- Tenure: Under one title freehold.
- Care provider in place who has agreed to a 5-year fixed agreement. As part of the agreement maintenance costs are covered by the care provider such as redecoration and repair of any items inside the property which are broken. Any new buyer would be liable for any costs relating to issues with the building such as roof repairs, damp etc.
- Each apartment has been completely refurbished throughout with everything being new.
- ROI: 24.96% (based on a 30% commercial deposit, this does not include any stamp duty costs)
- ROI: 7.48% (based on a full cash purchase, this does not include any stamp duty costs)

High Street - Key Points

Location

Portsmouth, United Kingdom