Opportunity to purchase a 9-unit block in Weston-Super-Mare generating £105,660 rent pa & gross yield of 9.6%
£1,100,000
9-unit Block
VES-BS23-004
INITIAL INVESTMENT
£318,500
Based on
deposit: £275,000
stamp duty: £33,000
mortgage fees: £1,500
conveyancing fees: £9,000
GROSS RENT
£105,660
GROSS YIELD
9.6%
The block
TENURE
Freehold
NO OF UNITS
9
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
4,457
PRICE SQ FT
£247
Block information
- Brand new development and conversion
- The block comprises:
- 2 x 2-bed flats
- 4 x 1-bed flats
- 3 x commercial units
- The works were completed in 2021
- 9 years warranty remaining
- All fixtures and fittings are brand new
- EPC ratings B
- Council tax band A
Rental information
- The block is fully let at the time of listing
- The commercial units are let on 5-year leases
Current rental income:
- Total monthly rental income: £8,805
- Total annual rental income: £105,660
- Total gross yield: 9.6%
The vendor is planning to increase the rents for the flats, which will generate:
- Total monthly rental income: £9,495
- Total annual rental income: £113,940
- Total gross yield: 10.4%
Location information
- The block is located in the town centre of Weston-super-Mare
- All local amenities can be reached within a short walk
- The beach and pier are also just a short walk from the property
- Weston-super-Mare railway station is 0.4 mile away and can easily be reached on foot
- Quick access to the A370 and wider road network
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
We are awaiting internal photos and will add them as soon as they have been received.
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Floorplans
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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.
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About Weston-super-Mare, Somerset
Weston-super-Mare is a seaside town in Somerset and lies by the Bristol Channel 18 miles south-west of Bristol. The A370 runs through the town connecting it to the M5 at junction 27.
Weston-super-Mare railway station is located in the centre of town and is operated by Great Western Railway. There are regular local train services from Bristol Parkway which terminate at Weston-super-Mare as well as some semi-fast services between Cardiff Central and Taunton. Additional Great Western Railway trains go all the way to London Paddington whilst CrossCountry operates daily services between Paignton and Manchester Piccadilly.
Bristol Airport is the closest operational airport and is just 15 miles away.
There are plenty of attractions in Weston and the surrounding area offering great opportunities for fun days out. Some of these include Weston’s long and sandy beach with its Grand Pier and traditional beachside promenade, the Helicopter Museum, Weston Museum, Water Adventure Play Park, Noah’s Ark Zoo Farm, Brean Down, Art Deco Tropicana, Wall Eden Farm, Clevedon Pier and Puxton Park.
Other events that attract large numbers of visitors include the ‘International HeliDays’ which are staged at the beach lawns at the end of July in association with the Helicopter Museum as well as an annual display by the Red Arrows. The beach is also the venue for the annual Sand Sculpture Festival. During September and October the Weston Arts Festival takes place taking over local venues offering a wide range of cultural events.
Weston also has two Sites of Special Scientific Interest, Sand Point to the north of town and Ellenborough Park in the centre of town. Only a short drive away one can find the limestone Mendip Hills with the lakes of the Chew Valley which has been designated as an Area of Outstanding Natural Beauty.
With its great transport links to Bristol Weston has become a commuter town over time. However, its closeness to the national motorway networks means that several distribution depots can be found here. Some of the largest employers include North Somerset Council and Weston College.
Saint James Street,
Weston-super-Mare,
North Somerset,
England,
BS23 1ST
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