Newmarket, CB8 8AX | Investment Property for Sale | VES-CB8-001

Opportunity to purchase a 13-unit block in Newmarket with the potential to generate a gross yield of 6.1%

£1,600,000

13-unit Block

VES-CB8-001

INITIAL INVESTMENT

£462,500

Based on

deposit: £400,000

stamp duty: £48,000

mortgage fees: £1,500

conveyancing fees: £13,000

GROSS RENT

£97,320

GROSS YIELD

6.1%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

13

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

6,276

PRICE SQ FT

£255

Block information

  • Spread over 3 floors
  • Converted/extended former pair of late Victorian terraced houses
  • The block comprises 13 units:
    • 3 x studio apartments
    • 8 x 1-bed apartments
    • 2 x 2-bed apartments
  • The apartments range in size from 312 - 872 sqft
  • There is also a rear garden
  • There is off-road parking
  • EPC ratings C & D
  • Council tax band A

Rental information

  • At the time of listing all bar two units are let
  • Once fully occupied the block is expected to achieve:
    • Monthly rental income £8,110
    • Annual rental income £97,320

Location information

  • The property is located just outside of Newmarket town centre
  • Newmarket town centre can be reached in less than 5 minutes on foot
  • Newmarket railway station is 0.3 miles from the property and easily reached

Available upon request

  • Block breakdown
  • EPCs for all units

Note

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

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 Newmarket, Suffolk

Newmarket is a market town in Suffolk, East of England. It lies around 14 miles west of Bury St Edmunds and 14 miles north-east of Cambridge.

The A14 passes Newmarket from east to west in the north of the town connecting it to Felixstowe and Catthorpe. The A11 also passes the town connecting it to London and Norwich.

Newmarket railway station lies on the Ipswich-Ely line running regular Abellio Greater Anglia services.

Newmarket is best known for racehorses. It is the largest racehorse training centre in Britain, the largest breeding centre, home to most big British horseracing institutions and a global centre for horse health. A number of horse races are held every year at Newmarket’s racecourses the Rowley Mile and July Course. An estimated one in every three jobs locally is related to horse racing. Several local attractions are obviously linked to horseracing such as the National Horse Racing Museum and Newmarket Racecourses. Other places to visit nearby include the National Trust property Ickworth House in Bury St Edmunds, Fitzwilliam Museum in Cambridge, Kentwell Hall in Long Melford to name a few.

Shopping in Newmarket is centred around the local high street which offers big name brands as well as smaller, independent boutiques. There are also several established restaurants offering all types of cuisines as well as cafes and local pubs.

Education in Newmarket is provide by a number of primary schools and Newmarket Academy. It is also home to an Air Training Corps squadron and an Army Cadet Detachment.

Park Lane,

Newmarket,

Suffolk,

England,

CB8 8AX

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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.

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