Opportunity to purchase a 7-unit freehold block in Heanor generating £46,200 rent pa & gross yield of 8.8%
£525,000
7-unit Block
VES-DE75-001
INITIAL INVESTMENT
£155,500
Based on
deposit: £131,250
stamp duty: £15,750
mortgage fees: £1,500
conveyancing fees: £7,000
GROSS RENT
£46,200
GROSS YIELD
8.8%
The block
TENURE
Freehold
NO OF UNITS
7
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
3,016
PRICE SQ FT
£174
Block information
- This is a pub to residential conversion
- The works were completed in Spring 2021
- The block comprises 7 x 1-bed apartments
- Spread over 2 floors (ground and first floor)
- EPC ratings of C
Rental information
- All apartments are let
- Aggregate monthly rental income £3,850
- Aggregate annual rental income £46,200
- Aggregate gross yield 8.8%
Location information
- The property is 0.7 miles south of the town centre
- Langley Mill train stations is about 1.2 miles from the property
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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About Heanor, Derbyshire
Heanor is a town in Derbyshire in the East Midlands. It lies around 11 miles north-east of Derby and 10.5 miles north-west of Nottingham.
Heanor no longer has a railway station, so the nearest station is around 2 miles away in Langley Mill. From here Northern Trains operate a service between Nottingham and Leeds via Sheffield, whilst East Midlands Railway trains run between Liverpool and Norwich.
The closest international airport is East Midlands Airport which is 18 miles away.
Market Street is the main shopping area in Heanor where one can find some stores of well-known brands as well as several independent retailers. In the market square regular markets are being held every Monday, Friday and Saturday. And on the first Saturday of the month there is a community fair held here.
Heanor is ideally located for anyone interested in outdoor pursuits. Shipley Country Park offers over 700 acres with opportunities for walking, cycling, horse riding, bird watching, angling and many more. The Red River Local Nature Reserve in nearby Loscoe also offers plenty of opportunities for country walks. The Peak District National Park, which is around 28 miles by car, offers further fun days out for the family.
The local economy is mainly made up of the manufacturing and retail sector. With its close proximity to both Derby and Nottingham Heanor is also a commuter town.
Breach Road,
Heanor,
Derbyshire,
England,
DE75 7NJ
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