Barnsley, S74 | Investment Property for Sale | VES-S74-001

Opportunity to acquire an unbroken apartment block with freehold in Hoyland, Barnsley

£2,300,750

22-unit Block

VES-S74-001

INITIAL INVESTMENT

£667,710

Based on

deposit: £575,188

stamp duty: £69,023

mortgage fees: £1,500

conveyancing fees: £22,000

GROSS RENT

£120,240

GROSS YIELD

5.2%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

22

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

12,050

PRICE SQ FT

£191

Please note that this is an off-market opportunity that is available to qualified buyers only.

Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.

Opportunity to acquire an unbroken apartment block, with freehold, in Hoyland, Barnsley, Yorkshire.

The property comprises 21 apartments occupying the first and second floors of this recently converted town hall, plus a commercial unit on the ground floor.

  • 6 x studios (estimated average size of 414 sqft)
  • 11 x 1-bed apartments (estimated average size of 566 sqft)
  • 4 x 2-bed apartments (estimated average size of 706 sqft)
  • 1 x commercial unit (estimated size of 516 sqft)

The building was converted in 2020 and has been newly renovated to a high standard throughout. Each of the apartments has a shower room, kitchen, lounge, and storage space.

The aggregate estimated rental value is £120,240 pa (£10,020 pcm) with a service charge budget of £17,600 pa. The apartments are fully let and are achieving £9,520 pcm in aggregate. The commercial unit is currently vacant and contributes to £500 of the monthly estimated rental value.

The freehold has been appraised at £131,250 based on total ground rent of £5,500 pa and the units being on separate 125-year leases (commencing from 2020).

The property is situated in the town centre of Hoyland, which lies 8 miles south of Barnsley (20 minutes by car) and 10 miles north of Sheffield city centre (30 minutes by car). The location has excellent transport links thanks to the close junction of the M1 motorway and Elsecar train station.

A £4.5 million redevelopment project has been announced, with contractors appointed, for the regeneration of Hoyland town centre, including a new market site with 30 stalls, three kiosks, a disabled toilet, wash room and a 26-space car park, a new 12,000 sqft supermarket and a 6,000 sqft department store, plus several smaller retail outlets.

Barnsley’s largest employers include Asos, global manufacturer Esco, Warwick Ward, XPO Logistics and Barnsley Council, whilst Sheffield’s largest employers include SIG, B Braun Medical, Sheffield Teaching Hospitals NHS Foundation Trust, the Department for Work and Pensions, Learndirect, Hallam University and the University of Sheffield (the two universities together attract around 60,000 students annually).

The vendor is seeking offers over £2,300,750 (inclusive of freehold and the commercial unit).

Please contact our sales team for further details.

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Barnsley, South Yorkshire

Barnsley is a large town in South Yorkshire situated halfway between Leeds and Sheffield accessible via junctions 36, 37 and 38 of the M1 motorway. The town center lies on the west bank of the Dearne Valley, offering stunning surroundings.

Barnsley is a characterful town in the heart of Yorkshire, offering a variety of entertainment opportunities such as The Parkway Cinema complex, rich history reflected in the historic buildings and events in the Cannon Hall and leisure and sports facilities.

Some of Barnsley’s big employers are Asos, global manufacturer Esco, Warwick Ward Ltd, XPO Logistics, Barnsley Council and many more.

Point of reference - not exact location,

Barnsley,

South Yorkshire,

England,

S70 1AA

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