Opportunity to purchase a 13-unit block in Newmarket with the potential to generate a gross yield of 6.5%
£1,500,000
13-unit Block
VES-CB8-001
INITIAL INVESTMENT
£434,500
Based on
deposit: £375,000
stamp duty: £45,000
mortgage fees: £1,500
conveyancing fees: £13,000
GROSS RENT
£97,320
GROSS YIELD
6.5%
The block
TENURE
Freehold
NO OF UNITS
13
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
6,276
PRICE SQ FT
£239
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.
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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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