Opportunity to purchase 24-unit block in Bishop's Stortford with the potential to generate 7.4% gross yield
£6,450,000
24-unit Block
VES-CM23-002
INITIAL INVESTMENT
£1,914,000
Based on
deposit: £1,612,500
stamp duty: £276,000
mortgage fees: £1,500
conveyancing fees: £24,000
GROSS RENT
£475,000
GROSS YIELD
7.4%
The block
TENURE
Freehold
NO OF UNITS
24
TENANCY STATUS
Vacant
FURNISHED
No
TOTAL SQ FT
10,473
PRICE SQ FT
£616
Block information
- Brand new development still in development
- Practical completion expected in February 2022
- The block comprises:
- 1 x 2-bed apartment
- 23 x 1-bed apartments
- There are 22 allocated parking spaces
- EPC rating: tbc, following completion of the works
- Council tax band: tbc
Rental income
When fully let the apartments are expected to achieve:
- Aggregate monthly rental income £39,583.33
- Aggregate annual rental income £475,000
- Aggregate gross yield 7.4%
Location information
- The property is just half a mile outside of the town centre
- Bishop's Stortford railway station is less than a 10-minute walk from the property
- Castle Gardens park can be reached on foot in under 10 minutes
Notes
Please note that Vesta has not visited this property and that the vendor has provided all material.
At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.
The floorplans are examples of a 1-bed and 2-bed apartment in this development. Layout and sizes will vary.
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Floorplans
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 Bishop’s Stortford, Hertfordshire
Bishop’s Stortford is a market town in Hertfordshire just 27 miles north-east of London. The M11 motorway passes east of the town and can be reached via Junction 8. It links Bishop’s Stortford to Cambridge, Harlow and London.
Bishop’s Stortford railway station is on the West Anglia Main Line and is operated by Greater Anglia. Southbound trains run to Harlow, Tottenham Hale and London Liverpool Street, as well as Stratford. Northbound trains run to Cambridge, Ely and King’s Lynn. The Stansted Express service also calls at the station providing a direct link to Stanstead Airport.
The nearest airport is Stanstead Airport, which lies just under 5 miles east of the town and serves over 200 destinations globally.
The town centre features a bi-weekly market every Thursday and Saturday, a number of independent shops including jewellers, gift shops, bakeries, boutiques and also has a convenient shopping centre Jackson Square. There are a variety of attractions including Rhodes Arts Complex housing the Bishop’s Stortford Museum, Cecil Rhodes Collection and Local History Collection.
Nature lovers can choose between walks alongside the River Stort or the over 90 acres of parks and open spaces offering a variety of different countryside walks. Bishop’s Stortford is an affluent town which is partly due to a high number of locals working in financial services in London. It is perfectly located for an easy commute into London. Other local jobs are in the tourist industry, including hotels, catering and airline staff.
London Road,
Bishop's Stortford,
Hertfordshire,
England,
CM23 5ED
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