Newington Kent Rental Flats Business - 25 Years of Ownership with 4 Well-Maintained Units for Sale
Newington, Kent
- Status
FOR SALE
- Date Submitted:
03/03/23
- Advert ID
509285
- Freehold: £425,000
- Turnover: £28,800 (£554 Per week)
- Net Profit: Not Applicable
Key Features
- Retirement Sale
Business Details
Landlord rental flats business
I have owned and run this rental business for the last 25 years and I have maintained it as I was a builder in my youth.
I have 4 flats in the building 2 x one bed and 2 x studio, the tenants I have are all vetted by me and are all
of sound character and as this location is very soughtt after if anyone does leave there is always a queue of applicants
All tenancy agreements are 6 month short term with a one month notice either way (not that I have ever used this)
This has been a great asset to me and given me a good return, sadly now as I am in my seventies it's time to move on.
This will NOT be a sell and run situation, I will give the new owner a honeymoon period so as to make the transition easy for both parties.
Were the building to be split and sold on a lease for each flat it has been valued at £450k however as I have looked after my tenants for a long time I will not do this to them so hence the price I have asked for.
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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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.
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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.
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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.
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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.
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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.'.
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