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

£996,600

GROSS RENT / YIELD

£120,240 / 5.5%

NET RENT / YIELD

£91,802 / 4.2%

The block

TENURE

Freehold

NO OF UNITS

11

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

6,968

PRICE SQ FT

£316

Opportunity to purchase a tenanted block of flats including freehold

Portfolio Breakdown

3 x 1-Bed & 8 x 2-Bed

Financial breakdown available on request

Floorplans

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

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£120,240

Equivalent of £10,020 per calendar month (PCM).

GROSS RENTAL YIELD

5.5%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£91,802

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.2%

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

FULLY MANAGED OPERATING COSTS

£28,438

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

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

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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