Gillingham, ME7 4JX | Investment Property for Sale | VES-ME7-001

Tenanted block of flats generating £120,240 in rent per annum and gross yield of 5.5%

£2,200,000

Block of 11 Flats

VES-ME7-001

INITIAL INVESTMENT

£645,000

Based on

deposit: £550,000

stamp duty: £82,500

mortgage fees: £1,500

conveyancing fees: £11,000

GROSS RENT

£120,240

GROSS YIELD

5.5%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

11

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

6,968

PRICE SQ FT

£316

This is a fantastic opportunity to purchase a 11 unit block.

Property information

  • Spread over 4 floors
  • 11 new apartments, comprising of:
    • 3 x 1-beds
    • 8 x 2-beds
  • Includes freehold for sale; leasehold information below
  • All EPCs available upon request
  • Fully tenanted
  • Aggregate monthly rental income: £10,020
  • Aggregate annual rental income: £120,240
  • Aggregate gross yield: 5.5%

Leasehold information

  • Length of lease: 125 years
  • Year lease started: TBC
  • Aggregate ground rent: £2,600 pa
  • Aggregate service charge and insurance: £14,912 pa

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

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 Gillingham, Kent

Gillingham is a town in the county of Kent in the south east of England. It is situated 28.1 miles west of Canterbury and 36.7 miles east of Charing Cross.

This area is serviced by Gillingham railway Station which is managed by Southeastern. Southeastern operates 3 high speed trains per hour (tph) to London St Pancras, 2 via Gravesend and 1 via Faversham. There are also 3 tph to London Victoria via Bromley South, with 1 stopping at Denmark Hill. Additionally, along the Chatham Main Line Southeastern operates 2 tph to Dover Priory via Canterbury East and 1 tph to Ramsgate via Faversham and Margate. Thameslink also operates services from this station with 2 tph destined for Luton via Dartford, Greenwich, London Bridge and St Pancras and another service operating 2 tph to Rainham.

All of one’s retail needs can be sought to at Bluewater Shopping Centre which is the fifth-largest shopping centre in the UK, that includes 330 stores and 40 cafes and restaurants. In the local area there are supermarkets such as Aldi and a Sainsbury’s Local.

There are many job opportunities in the area from big employers such as the Medway maritime Hospital and Bluewater which employs over 7,000 people. These areas of Medway are used by many as a commuter hub to London, where there are thousands of job opportunities in many different fields.

This location could be perfect for young families looking for local school options for their young children that are in walking distance. The local primary schools are SaxonWay Primary and Barnsole Primary which are mixed-sex schools educating children to the age of 11. For those looking for secondary school options there is Chatham Grammar School for Girls, which includes a sixth form also.

Duncan Road,

Gillingham,

Medway,

England,

ME7 4JX

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Important Note

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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.

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