£1,500,000
59 bed property for saleAllied Place, 44 Abbey Street, Leicester, Leicestershire LE1
59 beds
46 baths
Added on
SellMyHome.co.uk
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About this property
Leicester City Centre
Newly Refurbished residential apartment development
Whole block investment opportunity
46 self-contained apartments
Ideal for institutional investors and portfolio landlords
Long-term income and capital growth potential Potential
Excellent access to Leicester city centre and transport links
Excellent rental investment opportunity
Leasehold Purchase
Wheelchair accessible
On offer an exceptional opportunity to acquire 46 apartments in a newly refurbished development situated on Abbey Street Leicester. The development offers 15 studio apartments 18 one bedroom apartments 13 two bedroom apartments. The gross rental income is for the development is £368,880 per annum The development is ideal for a landlord adding to their portfolio or institutional investors. To enquire please contact Sell My Home for further details.
Available at £1,500,000 the opportunity generate approximately £401,520 in gross annual rental income.
The development requires remedial works to the cladding, façade and fire stopping.
Leasehold details:
The property is held under a long lease dated 10 June 2014 for a term of 125 years, providing approximately 112 years and 8 months unexpired as at October 2026.
The lease provides for an original annual ground rent of £35,000, subject to five-yearly reviews linked to the Retail Prices Index (rpi).
The lease includes provisions relating to service charges, buildings insurance, repairs, permitted uses and assignment, together with a contractual option to renew, subject to the relevant conditions.
Further leasehold documentation and financial particulars are available to genuinely interested parties upon request.
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