Chester, CH1 4DE | Investment Property for Sale | VES-CH1-002

Opportunity to purchase a 18-unit block with FH in Chester generating £88,740 gross rent pa & 5.5% gross yield

£1,600,000

18-unit Block

VES-CH1-002

INITIAL INVESTMENT

£467,500

Based on

deposit: £400,000

stamp duty: £48,000

mortgage fees: £1,500

conveyancing fees: £18,000

GROSS RENT

£88,740

GROSS YIELD

5.5%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

18

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

6,612

PRICE SQ FT

£242

Block information

  • This block is made up of 2 buildings of 9 apartments each, comprising:
    • 1 x 1-bed apartment
    • 17 x studio apartments
  • Each apartment is self-contained and comes with:
    • Kitchen with appliances
    • Open plan living room/bedroom
    • Modern shower room
  • There is also a garage/workshop which is let and generates £600 rent pa
  • There are 9 parking spaces for all tenants
  • EPC ratings: C, D & E
  • Council tax band A
  • GIA of both blocks is 6,612 sq ft
  • NIA of all flats is 4,699 sq ft

Rental information

  • All apartments are fully let
  • Aggregate monthly rental income: £7,395
  • Aggregate annual rental income: £88,740
  • Aggregate net yield: 5.5%

Location information

  • The block is located just north-west of the centre of Chester
  • Chester city centre is half a mile from the property and can easily be reached on foot
  • Chester railway station is approximately 1.2 miles away
  • A number of shops and local amenities are within walking distance of the property

Available upon request

  • Breakdown of the block
  • EPCs for all units
  • Video walkthroughs

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 Chester, Cheshire

Chester is a cathedral city in Cheshire, in the north-west of England and close to the border with Wales. It lies around 7 miles south of Ellesmere Port, 17 miles south of Birkenhead, 20 miles south of Liverpool and 14 miles north of Wrexham.

There are a number of major roads going through and past Chester such as the M53 motorway towards the Wirral Peninsula and Liverpool, the M56 motorway to Manchester, the A55 which runs along the Welsh coast to Holyhead and the A483 which links the city to Wrexham and Swansea.

Chester railway station runs services by Avanti West Coast, Merseyrail, Northern and Transport for Wales. Scheduled Avanti West Coast trains run to London Euston and Holyhead, Merseyrail trains run to Liverpool, Northern trains run to Manchester Piccadilly and Leeds, and Transport for Wales trains run to Liverpool Lime Street, Manchester Airport, Crewe, Birmingham New Street, Cardiff Central, Llandudno and Holyhead.

There are a large number of attractions in Chester and the city walls are one of them. Aside from a 100m section the Grade I listed walls are almost complete, measuring almost 2km, making Chester one of the best-preserved walled cities in Britain. Other prominent buildings include the Rows, Chester Town Hall, Chester Cathedral, the Roman amphitheatre and Chester Castle. Steeped in long history there are many visitors tours to choose from including walking tours, bus tours and even a river cruise. Chester Zoo is another great attraction for the whole family year-round and lies to the east of the city.

For any outdoor lovers there is the Cheshire Peak District with almost 100 square miles of nature including parts of the Peak District National Park. One can find a large choice of walking trails including the 35 miles Gritstone Trail, as well as several unique market towns and 7 National Trust properties.

Any shopping needs can be satisfied with a visit to the High Street, especially the Rows, as well as the two main shopping centres The Grosvenor Shopping Centre and the Forum.

Chester’s economy is largely made up of service industries such as tourism, retail, public administration and financial services. Some of the financial services employers include Bank of America, MBNA, NFU Mutual, Lloyds Bank, Virgin Money, Quilter, Diner’s Club and M&S Bank. Other large employers include the University of Chester and the Countess of Chester Hospital.

Whipcord Lane,

Chester,

Cheshire West and Chester,

England,

CH1 4DE

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