Bradford, BD9 | Investment Property for Sale | VES-BD9-001

Opportunity to purchase a 380 unit off-market residential block in Bradford

£40,845,000

380-unit block

VES-BD9-001

INITIAL INVESTMENT

£17,944,850

GROSS RENT / YIELD

£2,694,000 / 6.6%

NET RENT / YIELD

£2,069,199 / 5.1%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

380

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

187,240

PRICE SQ FT

£218

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.

This building was originally used as the headquarters for a once well known brand and occupies a huge parcel of land. The developer is converting the site into 380 residential apartments, which will be delivered in three phases over the next two years.

The site is located in a prominent position between the higher quality outer Bradford residential suburbs and the Airedale towns and villages of Shipley, Cottingley and Bingley. The building phases will be delivered as per the below:

  • Phase 1 – 140 apartments (14 x studios, 114 x 1-beds, 12 x Penthouses)
  • Phase 2 - 136 apartments (112 x 1-beds and 24 x 2-beds)
  • Phase 3 – 104 apartments (4 x studios, 80 x 1-beds and 20 x 2-beds)

Each apartment will have an open plan living room and kitchen space with high spec fitted units and appliances. Every apartment will also benefit from allocated parking.

During Phase 2 of the development brand new amenities will be delivered for tenants. To cater for active lifestyles, an on-site tennis court and a fully equipped modern gym will be made available. There will also be a fully stocked on-site convenience shop selling everyday essentials. For families, a soft play area designed for children to enjoy will be made available.

The purchase of the development can be structured in a number of ways depending on the preference of the buyer.

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£2,694,000

Equivalent of £224,500 per calendar month (PCM).

GROSS RENTAL YIELD

6.6%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£2,069,199

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.1%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£624,801

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Bradford, West Yorkshire

Bradford is located in the moorland region called the South Pennines, situated about 8.6 miles west of Leeds and 16 miles northwest of Wakefield.

Bradford has an impressive history and this is reflected in the striking architecture found throughout the city. It was once considered to be the wool capital of the world and is now proud to be the first ever UNESCO City of Film. Bradford is also a cultural city with a flourishing arts scene, fascinating exhibitions and beautiful theatres. There are attractions such as the National Science and Media Museum, Cartwright Hall and Impressions Gallery.

A ten-year plan to drive forward regeneration in Bradford city centre has been unveiled by Council bosses. A new film production hub for the city, better road and rail links and the ‘reinvention’ of the Thornton Road university and college area are all on the cards over the next decade. The Bradford City Plan also brings together much-publicised plans for a redeveloped Odeon, a refurbished St George’s Hall, a new city-centre pool and a retail academy.

A number of major companies have their headquarters in the city including Morrisons, Provident Financial, Yorkshire Building Society and Hallmark Cards. This includes two FTSE 100 companies, more than any other city in the Northern Powerhouse.

Point of reference - not exact location,

Shipley,

West Yorkshire,

England,

BD18 4AP

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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