Opportunity to purchase a 50-unit broken block in Runcorn with the potential to generate a 6.8% gross yield
£3,500,000
50-unit Broken block
VES-WA7-003
INITIAL INVESTMENT
£1,031,500
Based on
deposit: £875,000
stamp duty: £105,000
mortgage fees: £1,500
conveyancing fees: £50,000
GROSS RENT
£236,568
GROSS YIELD
6.8%
The block
TENURE
Leasehold
NO OF UNITS
50
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
21,000
PRICE SQ FT
£167
GROUND RENT
£12,500
SERVICE CHARGE
£31,392
Leasehold information
- Length of lease: 250 years
- Year lease started: 2017
- Years left on lease: 245 years (from 2022)
- Ground rent review period: tbc
- Service charge review period: tbc
Block information
- Converted office building to residential
- The building consists of 248 units of which 50 are available, comprising:
- 10 x studio apartments
- 40 x 1-bed apartments
- Apartment sizes vary between 370 - 430 sqft
- Allocated parking spaces
- EPC ratings B & C
- Council tax band A
Rental information
- At the time of listing 90% of the units are let, all others are being advertised
- Once fully let the units are expected to achieve:
- Monthly rental income £19,714
- Annual rental income £236,568
Location information
- The property is located in the Halton area of Runcorn
- Runcorn town centre is just under 3 miles from the property
- Runcorn Shopping City is only a short walk away
- Easy access to the A533
Notes
Please note that Vesta has not visited this property and that the vendor has provided all material.
The floorplans are examples of a studio and 1-bed apartment in this development. Layout and sizes will vary.
The photos are for illustrative purposes only and represent apartments within the building.
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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 Runcorn, Cheshire
Runcorn is a town in the Borough of Halton in Cheshire. It lies around 8 miles south-west of Warrington and 14 miles south-east of Liverpool.
The town is surrounded by expressways which from a ring road in a figure of eight keeping all through traffic off local roads. They link to Widnes, Liverpool and Chester in the north, to Warrington in the east, to Northwich in the south and to Frodsham in the west. The M56 runs to the west of Runcorn connecting it to the M6 at Lymm Poplar 2000 services.
Runcorn has two railway stations, Runcorn and Runcorn East. Runcorn railway station is located in the old town and is on the Liverpool branch of the West Coast Main Line, providing services to Liverpool Lime Street and London Euston, as well as Birmingham New Street. Runcorn East railway station is located in Murdishaw and provides services to Warrington, Manchester, Chester and North Wales.
Liverpool John Lennon Airport is around 8 miles away, whilst Manchester Airport is around 22 miles away.
There are several noteworthy landmarks in Runcorn, such as the Grade I listed Halton Castle and Norton Priory. A number of the local Grade II listed buildings are located by Halton Castle, such as Seneschal’s House, Halton Old Hall, Chesshyre Library and Halton Vicarage. Bridgewater House is another prominent landmark and Grade II listed building
Runcorn’s main shopping area is Shopping City in the centre of town as well as a smaller centre at the old town.
The open spaces in Runcorn form part of Mersey Forest and aside from local parks and allotments there are four large parks: Town Park, Phoenix Park, Runcorn Hill Park and Local Nature Reserve and Wigg Island. These parks offer a variety of outdoor activities such as a dry ski slope, miniature railway, rock climbing wall, skate park and BMX track, woodland walks, playgrounds, a lake, and bird watching hides.
Runcorn is ideally located between Liverpool and Manchester and has excellent transport links via rail, road and canal networks, which have made it a centre of manufacturing, logistics, wholesale and retail. Whilst chemical manufacturing was the dominant sector the economy has now diversified into aerospace, automotive, as well as services and logistics sectors.
East Lane,
Runcorn,
Cheshire,
England,
WA7 7DN
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