Wellingborough, NN8 1PF | Investment Property for Sale | VES-NN8-003

Opportunity to purchase a 24-unit freehold block in Wellingborough expected to generate a 6.5% net yield pa

£3,700,000

24-unit Block

VES-NN8-003

INITIAL INVESTMENT

£1,075,500

Based on

deposit: £925,000

stamp duty: £125,000

mortgage fees: £1,500

conveyancing fees: £24,000

GROSS RENT

£240,000

GROSS YIELD

6.5%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

24

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

13,089

PRICE SQ FT

£283

Block information

  • Victorian shoe factory converted into bespoke apartments
  • The block comprises:
    • 20 x 1-bed apartments
    • 4 x 2-bed apartments
  • Spread over 5 floors (basement to attic)
  • Lift access to all floors
  • There will be 10 car parking spaces
  • There will also be 14 bicycle bays
  • The block comes with a 10-year warranty - ICW
  • Each apartment comes with:
    • Combi boiler and radiators
    • Individual room thermostats
    • Brand new bathroom suite
    • Integrated kitchen appliances
    • Video door entrance system
  • The block will come with a ramp for disabled access
  • The majority of apartments are Part M compliant
  • EPC rating: B & C
  • Council tax band: tbc

Rental income

The vendor has an offer from a serviced accommodation provider for a 5-year FRI lease with the following guaranteed rent:

  • Aggregate monthly rental income: £20,000
  • Aggregate annual rental income: £240,000
  • The displayed gross rent and gross yield are reflecting the net amounts; we are unable to display net figures at present

Available upon request

  • Block breakdown
  • EPCs for all units, once received
  • Full floorplans

Location information

  • The property is located just outside the Wellingborough town centre
  • All local amenities are within walking distance from the property
  • Wellingborough railway station can be reached in a 12-minute walk

Note

The floorplans are an example of three of the units in this development. Layout and sizes will vary.

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 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 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.

Mill Road,

Wellingborough,

Northamptonshire,

England,

NN8 1PF

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Vesta Property is a full member of the Property Ombudsman (TPO) and commits to TPO Codes of Practice

Chartered Trading Standards Institute - Approved Code

Authorised and regulated by the property ombusdman

Copyright © 2022 Vesta Global Limited. All rights reserved.