Horsham, Sussex, RH12 3TE | Investment Property for Sale | VES-RH12-237

Opportunity to purchase a 30 unit freehold portfolio generating £400,428 gross rent annually

£8,000,000

30 Unit Portfolio

VES-RH12-237

INITIAL INVESTMENT

£3,598,500

GROSS RENT / YIELD

£400,428 / 5.0%

NET RENT / YIELD

£307,560 / 3.8%

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The portfolio

TENURE

Freehold

NO OF UNITS

30

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

TBC

PRICE SQ FT

£0

Investment Considerations

Description

The houses form part of a wider development delivered by Bovis Homes which were completed in 2014. The houses are a mixture of terraced and semi-detached properties that form a terrace facing Ellis Road and Sergeant Way.

The houses are of brick construction and comprise a mixture of two and three stories with pitched roofs. Each property has allocated parking either provided at the front of the houses or by garages.

The purpose built block is also of brick construction and is arranged over three stories.

Accomodation

  • Freehold portfolio

  • 23 modern houses comprising:

  • 21 x Three bedrooms

  • 2 x Four bedrooms

  • Unbroken purpose built block comprising:

  • 5 x Two bedroom flats

  • 2 x One bedroom flats

**For further information, please request the master schedule. **

Tenancies / Total Current Gross Rent

The building is currently partially let subject to Assured Shorthold Tenancies. The total current rent reserved is £400,428 per annum.

For further information please reequest the Accommodation and Tenancy Schedule.

Estimated Gross Rental Value

We are of the opinion the estimated rental value of the portfolio (assuming fully let) is approximately £448,248 per annum.

Planning

We have been informed by the Local Planning Authority that the property is located within the Horsham District Planning Framework. The building is neither statutorily nor locally listed.

Engergy Performance Certificates

EPCs are available on request.

Please note

Photos are a sample of all houses and flats within the site. Some of these may not be representative of the units within this portfolio due to sale.

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

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Rental Income

GROSS RENT PER ANNUM

£400,428

Equivalent of £33,369 per calendar month (PCM).

GROSS RENTAL YIELD

5.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£307,560

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.8%

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

FULLY MANAGED OPERATING COSTS

£92,868

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

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Oak Portfolio, Horsham

Location

The portfolio is located in the village of Broadbridge Heath 1.7 miles (2.7km) directly to the west of Horsham town centre. Horsham is a vibrant and thriving market town with a population of approximately 134,200 people with 55,000 of them living in the main town.

Horsham is approximately 31 miles (50km) south west of London, and 18.5 miles (30km) north west of Brighton and 26 miles (42 km) north-east of the county town of Chichester.

The properties form an L shape on Ellis Road and Sergeant Way. Sixteen of the houses are located on the north side of Ellis Road until the road meets at Sergeant Way. The blocks of flats are located on the corner of Sergeant Way and Ellis Road. The other seven houses are located facing Sergent Way north of the block of flats.

Horsham town centre has a range of amenities and shops including a modern and busy shopping centre, Swan Walk, which includes well known high street retailers and the recently opened John Lewis and Waitrose complex.

The key industries in the town are financial services, pharmaceuticals and technology. Key employers include RSA Insurance Group, Novartis and the RSPCA and Gatwick Airport.

In addition, the area is fast becoming a retail destination in its own right as well as a key employment area.

Local attractions include the Rookwood Golf Course, Horsham Museum & Art Gallery and the Pavilions in the Park.

Connectivity

The town has excellent road link connections to the A23 and motorway network via the A264 Horsham bypass. The A24 with links to Central London, Worthing and south coast towns lie on the western boundary of Horsham town.

The area has excellent connectivity by rail and air, with Gatwick Airport located just 17 miles (27 km) away. Horsham Railway Station is approximately 3.5 mile (5.6 km) to the east and provides direct access to London Victoria and London Bridge.

By train

  • London Victoria (51 minutes)
  • London Bridge (55 minutes)
  • Gatwick Airport (17 minutes)

By road

  • Central London (40 miles / 64 km)
  • Brighton (25.6 miles / 41.1 km)

By air

  • Gatwick Airport (16.7 miles / 26.9 km)

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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