Heanor, DE75 7NJ | Investment Property for Sale | VES-DE75-001

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%

ADD TO FAVOURITES

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.

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 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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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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