Freehold Supported Living Property for Sale in Scunthorpe with annual income of £54,600
Scunthorpe, LincolnshireEst. 11 years
- Status
FOR SALE
- Advert ID
658767
- Freehold: £325,000
- Turnover: £54,600 (£1,050 per week)
- Profit: £54,600 (ROI 16.8% • Payback 5.95 years)
Key Features
- Non-medical care services
- Positive relationships with authorities
Business Details
Freehold Supported Living Property for Sale in Scunthorpe
This is a freehold house available at £325,000, let on a 25 year agreement to a large housing association that provides supported living for people with long term mental health needs. It generates £54,600 annually, a net yield of 16.8%, as there are no running costs.
This is not a buy to let. It is a commercial agreement. The business operating from the property turns over around £30 to £35 million and has a team of 25 to 30. You are not buying the business. You are buying the freehold house, with the business operating inside it under a lease. In essence, you are acquiring the £54,600 annual rental income, which is paid monthly and increases every year.
The covenant is very strong. We also have a few other opportunities available with different housing associations. The investment is completely passive, with no day to day involvement required, and it is already operating.
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Stay Safe
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.
Stay Safe
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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