Investment Freehold Property With High Rental Income For Sale | | Norwich Norfolk | | Positive cash flow, high profit Freehold, mixed property, (3 properties adjoined) This is one of 27 Of a portfolio undergoing a staggered disposal due to pending retirement. Freehold to buy Investment Freehold Property With High Rental Income For Sale is located in Norfolk. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 52971
ADVERT IMPRESSIONS : 9,932 TIME(S) | | | | BUSINESS SECTOR: | Commercial Property | | TRADE TYPE: | Investment Properties | | SALE: | Private Sale | FREEHOLD: | £500000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Freehold, mixed property, (3 properties adjoined)
1) retail shop / off license. Let on 15 yr tenancy
2) 4 bedsit HMO (House of multiple Occupation) let to professional working people. Let on renewable Assured short-hold tenancy agreements.
3) 1 bed self contained flat with court yard and Garage. Professional person. Let on renewable Assured short-hold tenancy agreement.
This property is one of 27 I own and as I am now retiring I am selling off 1 to 2 properties per year to avoid paying too much capital gains tax. This is a staged disposal of the portfolio over the next 12 yrs.
This is a large diverse property being sold as one as all 3 properties are adjoined. Offers are invited around £500k for this free hold investment property fully let with a rental income in excess of £33k per annum. The property will achieve capital growth over the next 7 yrs to a value of around £700k as well as benefiting from a positive cash income exceeding £33, 000 per year. The HMO and Flat are let to private domestic tenants on assured shorthold tenancy agreements. The shop/off license is let on a 15 year commercial lease. If you are not an experienced landlord I will work wih you for 1 month and provide 3 month further consultation. You can have my own software for tracking this and any other properties you may buy. This property requires around 2 to 3 days management per month. (You don't need any employees. ) Mainly to check and record payments of rent. The property will attract mortgage lenders between 75% to 85% mortgage, depending on your credit rating, meaning you will need between 15% & 25% to put down as cash. Mortgage can be interest only so payments would be around £800 per month with arounf £2700 income per month, providing £1900 per month positive cash flow.
If you need introductions to lenders I can arrange this through my contacts. The property is ready for a 'light refurb' (kitchen, bathroom and decoration) spending around £3k on this will increase the value by £18k to £25k but I neither have the energy or interest any longer to take advantage of this. It's time to pass the reigns to a younger person who has the drive to take this project to the next level.
fred@ati-group. Co. Uk for further details, viewing and valuations. | | | | | | FOR SALE | | | | | REFERENCE: | 52971 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
