Poole, BH12 3BJ | Investment Property for Sale | VES-BH12-001

Opportunity to purchase a 2 unit broken block in Poole generating £16,920 rent pa and a gross yield of 5.9%

£284,900

2-unit broken block

VES-BH12-001

INITIAL INVESTMENT

£128,505

GROSS RENT / YIELD

£16,920 / 5.9%

NET RENT / YIELD

£12,996 / 4.6%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,257

PRICE SQ FT

£227

Property information

  • 2 unit broken block for sale including the freehold
  • Aggregate monthly rental income £1,410
  • Aggregate gross rental yield 5.8%
  • both flats have been completely refurbished, see details below

1st Flat

  • 2 bedrooms
  • fully let
  • open plan living/kitchen/diner
  • 631 square foot
  • Asking price: £139,950
  • £685 monthly rental income
  • tenancy agreement start date: 21 December 2018
  • tenancy agreement end date: 20 December 2019
  • EPC rating E

2nd Flat

  • 2 bedrooms
  • fully let
  • open plan living/kitchen/diner
  • 626 square foot
  • Asking price: £144,950
  • £725 monthly rental income
  • tenancy agreement start date: 14 December 2018
  • tenancy agreement end date: 12 June 2020
  • EPC rating E

Refurbishment details

  • new floors
  • new ceilings
  • new kitchen
  • new bathrooms
  • all works include rewiring and replumbing
  • under 10 year ICW building warranty

Leasehold information

Both flats are sold with the freehold but below are the leasehold details for your information:

  • Ground rent: £150 pa
  • Service charge: £165 pa
  • Length of lease: 125 years
  • Year lease started: 2018

Notes

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

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

£16,920

Equivalent of £1,410 per calendar month (PCM).

GROSS RENTAL YIELD

5.9%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£12,996

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.6%

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

FULLY MANAGED OPERATING COSTS

£3,924

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 Poole, Dorset

Poole is a large costal town and seaport in Dorset, in the South West of England. It lies approximately 21 miles east of Dorchester and about 6 miles west of Bournemouth.

The A350 is the town’s main road leading onto the A35 towards Bath and Bristol. Eastwards the A337 leads to Lymington and the New Forest. There are four railway stations in Poole which are all on the South Western Main Line from London Waterloo to Weymouth. These are Branksome, Parkstone, Poole railway station and Hamworthy.

Poole is also a cross-Channel port for passengers and freight with ferry services from Poole Harbour to Cherbourg and fast ferries to Guernsey, Jersey and St Malo.

Bournemouth International Airport is about 10 miles outside Poole and a number of airlines operate scheduled services to the UK and European destinations.

As a popular tourist resort Poole has a number of exciting attractions, including Poole Harbour and Poole Bay where one can go sailing, windsurfing, kitesurfing and water skiing. The Poole Harbour Trails are a number of walks and trails around the natural harbour. Poole also has a cycle network of over 50 miles with a number of scenic and long-distance routes.

Other places to go to are Sandbanks Beach, Alum Chine Beach, Holes Bay, Upton Country Park, Brownsea Island, Tower Park, to name a few. Poole’s Lighthouse is the local arts centre and said to be the biggest arts centre complex outside of London in the UK. It underwent an £8.5 million refurbishment in 2002 and now contains a cinema, concert hall, image lab, studio, theatre and media suite and galleries.

Poole is also home of The Arts University Bournemouth, the Bournemouth Symphony Orchestra and parts of Bournemouth University. The Royal National Lifeboat Institution has their headquarters and training centre in town as well as a Royal Marines base in the harbour.

The towns main retail area is the Dolphin Shopping Centre which is connected to the pedestrianised high street containing shops, bars, pubs and restaurants.

There are a good number of schools to be found too, with seven junior schools, ten primary schools, nine secondary schools, three special schools, five independent schools and one college of further education. Bournemouth University’s main campus and buildings are in Poole with a smaller campus located in Bournemouth itself. The university offers several education courses in contemporary arts, design and media.

Some of the biggest employers locally are Sunseeker, Mathmos, Siemens, Ryvita, American Express Bank and the RNLI. Poole is also home to several headquarters for companies like Barclays Bank, Fitness First, the clothing company Animal, Lush and Merlin Entertainment. The tourism industry also provides a large number of employment opportunities, as well as the many industries connected to the port, which is a destination for bulk cargo imports.

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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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