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CONFIDENTIAL
WITHDRAWN
623358
This property consists of a block of 7 fully-let flats located in the Town Center area of Reading, Berkshire, known for its high rental income. The freehold of the property is available for sale at a price of £2,150,000, with the current annual turnover standing at £130,200. The business, which has been established and owned by the current owner for 4 years, offers a unique investment opportunity featuring multiple income-generating units.
The monthly rental income from the flats is £10,850, offering a substantial gross profit of £5,600 per month when considering the ongoing mortgage of £1.58 million, which incurs interest payments of £5,200 per month. To avoid Stamp Duty Land Tax (SDLT), there is an option to purchase the owning Ltd Company.
The flats are equipped with fully fitted bathrooms and kitchens, and all units are carpeted. Over the past year, the rental turnover has increased due to leasing arrangements with accommodation providers, resulting in a higher rental income.
The owner is selling the block of flats due to a desire to exit the landlord business. Prospective buyers will appreciate the property’s central location and the comprehensive range of stock included in the sale. This fully fitted property represents an advantageous investment for those looking to acquire a well-established rental venture.
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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