Wath upon Dearne, S63 | Investment Property for Sale | VES-S63-002

Opportunity to acquire a purpose-built apartment block with freehold in Wath upon Dearne

£2,821,250

29-unit Block

VES-S63-002

INITIAL INVESTMENT

£820,450

Based on

deposit: £705,313

stamp duty: £84,638

mortgage fees: £1,500

conveyancing fees: £29,000

GROSS RENT

£191,100

GROSS YIELD

6.8%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

29

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

14,508

PRICE SQ FT

£194

Please note that this is an off-market opportunity that is available to qualified buyers only.

Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.

Opportunity to acquire a purpose-built apartment block, with freehold, located in Wath upon Dearne, South Yorkshire, which is currently under development and is expected to be completed in August 2021.

The property will comprise 29 apartments, arranged over the ground and two further floors.

  • 22 x 1-bed apartments (estimated size of 460 sqft)
  • 7 x 2-bed apartments (estimated size of 620 sqft)

Every apartment will have a bathroom and an open plan living room cum kitchen area, with high spec fitted units and appliances. The premises will also provide external parking for every apartment and will have lift access to all floors.

The aggregate estimated rental value is £191,100 pa (£15,925 pcm) with a service charge budget of £23,200 pa.

The freehold has been appraised at £181,250 based on total ground rent of £7,250 pa and the units being on separate 125-year leases (commencing from 2020).

The property is situated next to the Sheffield University campus for nurses training in Wath upon Dearne, which is located at the eastern end of the Dearne Valley enterprise zone (designated in 1995), where much of the new commercial development has taken place. Since 1995, Dearne Valley has been transformed by the creation of 10,000 new jobs occupying a wide range of new commercial developments.

Wath upon Dearne is a town in the Borough of Rotherham, South Yorkshire. It lies 5 miles north of Rotherham, almost midway between Barnsley and Doncaster and 13 miles from Sheffield. It had a population of 11,816 (per the 2011 census).

Wath upon Dearne is centred on Montgomery Square, where the town's main shops, library and bus station are located. There are several busy high-street pubs in the town centre and a large Tesco Superstore and a smaller Asda Store within walking distance of Montgomery Square. Recently, several very large distribution warehouses for the clothing chain Next have opened and a significant amount of new housing is also being built. Other businesses in the area include Dearne Valley Day Nursery, Morphy Richards Head Office, Natwest, Dearne Valley College and Maplin Head Office.

The property has good road links leading to junction 36 of the M1 to the west (which connects it to Leeds to the north and London to the south) and the A1(M) to the east (which connects it to Newcastle to the North). Mainline rail services are available from nearby Doncaster, whilst Leeds Bradford Airport and Doncaster Airport are within easy motorway drives. It is a 5-minute bus ride to Wath upon Dearne town centre, or a 25-minute walk.

The vendor is seeking offers over £2,821,250 (inclusive of freehold).

Please contact our sales team for further details.

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 Wath-upon-Dearne, Rotherham, Yorkshire

Once described as the Queen of Villages by the poet and journalist James Montgomery, Wath upon Dearne is undergoing a process of regeneration from the inside.

Wath upon Dearne is a town in West Riding of Yorkshire and the Metropolitan Borough of Rotherham, South Yorkshire, England. It lies 5 miles (8 km) north of Rotherham, almost midway between Barnsley and Doncaster and 13 miles from Sheffield. It had a population of 11,816 at the 2011 census.

Wath upon Dearne is centred on Montgomery Square, where the town's main shops, library and bus station are located. There are several busy high-street pubs in the town centre, including Rotherham's first micro-pub specialising in locally brewed real ale.

The town has a small but bustling shopping area,, including amongst others Wath Sports, BARC Animal Rescue Charity Shop and Lilly Pot’s flower shop. There is also a large Tesco Superstore and a smaller Asda Store within walking distance of the Square.

There are four primary schools, two secondary schools and a further education college, Dearne Valley College. Education attracts students from a wider area.

Recently several very large distribution warehouses for the clothing chain Next have opened and a significant amount of new housing is also being built.

Wath upon Dearne is the home to Dearne valley College Campus. Other businesses in the area include Dearne Valley Day Nursery, Morphy Richards Head Office, RBS, Dearne Valley College, Maplin Head Office and a NEXT Distribution centre.

The area has excellent road links which lead to Junction 36 of the M1 to the west which connects it to Leeds in the north and London in the south. Junction 36 of the A1(M) to the east. Mainline rail services are available from nearby Doncaster, whilst Leeds Bradford Airport and Doncaster Airport are within easy motorway drives.

Point of reference - not exact location,

Wath upon Dearne,

Rotherham,

South Yorkshire,

England,

S63 7PU

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