Opportunity to buy a freehold block of 5 units plus building plot with planning approval for a 1-bed property
£700,000
5 Unit Block
VES-CB7-100
INITIAL INVESTMENT
£204,000
Based on
deposit: £175,000
stamp duty: £22,500
mortgage fees: £1,500
conveyancing fees: £5,000
GROSS RENT
£37,500
GROSS YIELD
5.4%
The block
TENURE
Freehold
NO OF UNITS
5
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
4,098
PRICE SQ FT
£171
Block information
- The block consists of 5 x apartments comprising:
- 4 x 2-beds
- 1 x 1-bed
- There is off-road parking
- EPC ratings D & E
- The Vendor has planning approval to erect a one-bedroom detached property to the side. This would bring in an additional £700 per month (ERV) based on the performance of the other similar units in this block. The planning documents are available upon request and the last two floorplan images show the proposed layout.
Rental information
- Unit 1 - 2-bed - £675 pcm
- Unit 2 - 2-bed - £675 pcm
- Unit 3 - 2-bed - £560 pcm
- Unit 4 - 2-bed - £590 pcm
- Unit 5 - 1-bed - £625 pcm
- Total monthly rental income £3,125
- Total annual rental income: £37,500
Location information
- The property is located in the centre of Soham
- Many local amenities are within walking distance of the property
- Soham Recreation Ground can reached within a 5-minute walk
- Plans to build a new train station in Soham have been approved and which is expected to be open in Spring 2022. The station will be on the Ipswich to Peterborough line making it ideal for commuters.
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REQUEST BLOCK DETAILS
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 Soham, East Cambridgeshire
Soham is a town in Cambridgeshire in the East of England. It lies 6 miles south of Ely, 8 miles north of Newmarket and 20 miles north-east of Cambridge. The A142 runs past Soham connecting it to Ely and Newmarket as well as the A14 to Cambridge.
Soham railway station was closed to passengers in 1965, however, it was announced in 2020 that a new station will be built on the old site and it is expected to be open in spring 2022. The station will be on the Ipswich to Peterborough line and will provide travel opportunities for work commuters as well as for study and leisure.
Currently the nearest railway station is in Ely from which regular services run to King’s Lynn, Birmingham, Nottingham, Sheffield, Manchester and Liverpool.
Soham high street offers a number of local restaurants, pubs and shops and there are nearby local supermarkets as well as a local sports centre which includes a gym, indoor sports courts and meeting rooms.
Education in Soham is provided by the St Andrew’s CofE Primary School, The Weatheralls Primary Schools, as well as The Shade Primary School and Soham Village College.
High Street,
Soham,
Ely,
Cambridgeshire,
England,
CB7 5HB
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