Opportunity to purchase a 6-unit block in Wellingborough generating £48,480 rent pa & gross yield of 5.4%
£900,000
6-unit Block
VES-NN8-002
INITIAL INVESTMENT
£262,500
Based on
deposit: £225,000
stamp duty: £30,000
mortgage fees: £1,500
conveyancing fees: £6,000
GROSS RENT
£48,480
GROSS YIELD
5.4%
The block
TENURE
Freehold
NO OF UNITS
6
TENANCY STATUS
Tenanted
FURNISHED
Yes
TOTAL SQ FT
2,594
PRICE SQ FT
£347
Block information
- Renovated and fully tenanted block
- Spread over 2 floors
- Comprising of:
- 2 x 1-bed apartments
- 4 x 2-bed apartments
- The ground-floor 2-bed apartment comes with it's own garden
- EPC ratings D & E
- Council tax band A
Rental income
- Aggregate rental income: £4,040 pcm
- Aggregate rental income: £48,480 pa
- Aggregate gross yield: 5.4%
Location information
- Wellingborough town centre is just over half a mile away from the property
- There are some bus stops a short walk from the property with regular services
- Wellingborough railway station can be reached in 10 minutes on foot
Note
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
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Floorplans
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About Wellingborough, East Midlands
Wellingborough is a large market town in Northamptonshire. It is located approximately 11 miles north-east of Northampton.
The A45 dual carriageway to the south links the town with the A14 and the M1. The A45 connects Wellingborough to Northampton, Rushden, Higham Ferrers and Peterborough, whilst the M1 leads to London and Leeds.
Wellingborough railway station is operated by East Midlands Trains, which runs direct trains to London St Pancras International in under an hour. The station also connects the town with Bedford, Luton, Kettering, Corby, Leicester, Nottingham, Derby, Sheffield and Leeds.
Some of Wellingborough’s places to visit are The Wellingborough Museum, which is housed in a Victorian swimming pool; All Hallows Church, which dates from the 12th century; The Castle Theatre, a mixed-use centre for theatre, cinema and art and Croyland Abbey. Rushden Lakes is also a perfect destination for the whole family and offers over 46 retail stores and 6 leisure facilities including an IMAX cinema, indoor rock climbing centre, and indoor adventure golf. The complex is situated right by the Nene Wetlands Nature Reserve which, at its centre, houses the lakes. The reserve is part of a Site of Special Scientific Interest and also includes footpaths and cycle tracks for visitors to explore.
Nearby Irchester Country Park offers cycle routes, several walking trails in the 200-acre woodland and an adventure course with zip lines. Stanwick Lakes, just outside Stanwick village, equally offers a variety of activities including team building days, wildlife & bird watching, traditional crafts courses, outdoor theatre productions, children’s holiday club and others.
The biggest employer in the area is Rushden Lakes and with its close proximity to Northampton, Wellingborough is also an ideal commuter town. Some of the big private employers in Northampton are Weetabix, Travis Perkins, Nationwide Building Society, RS Components, iPSL and Barclaycard.
Vivian Road,
Wellingborough,
Northamptonshire,
England,
NN8 1JL
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