Newington Kent Rental Flats Business - 28 Years of Ownership with 4 Well-Maintained Units for Sale
Newington, Kent
- Status
FOR SALE
- Advert ID
509285
- Freehold: £425,000
- Turnover: £34,800 (£669 per week)
- Profit: On request
Key Features
- Established business with history
- Established client base
- Solid goodwill and reputation
- Strong reputation with positive reviews
Business Details
Landlord rental flats business
After 28 successful years of ownership and management, the time has come for me to retire and pass this excellent rental investment on to a new owner. Having originally worked as a builder, I have personally maintained the property to a high standard throughout my ownership.
The property consists of 4 self-contained flats:
- 2 x One-Bedroom Flats
- 2 x Studio Flats
- Monthly rental income £2950.00
- Gross Yield 8.5%
The building is fully double glazed, well insulated, and held freehold with no leasehold complications.
The current tenants have all been personally vetted and are reliable, respectful, and of excellent character. This is a highly sought-after location, and whenever a vacancy arises there is consistently strong demand with waiting applicants.
All tenancy agreements are short-term 6 or 12 month contracts with one month’s notice required by either party, providing flexibility for both landlord and tenants.
This investment has provided me with a strong and dependable return over many years and has been a valuable asset. However, now in my mid-seventies, I feel it is the right time to step back.
The property also benefits from parking for 2–3 vehicles.
To ensure a smooth handover, I am happy to offer the new owner a transition period and ongoing guidance following the sale.
Please note: the property has been relisted due to a previous time waster. Serious enquiries only, please.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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