Wrexham, LL11 1AB | Investment Property for Sale | VES-LL11-001

Opportunity to purchase a 25-unit broken block in Wrexham with the potential to generate a 5.8% gross yield

£2,500,000

25-unit Broken block

VES-LL11-001

INITIAL INVESTMENT

£726,500

Based on

deposit: £625,000

stamp duty: £75,000

mortgage fees: £1,500

conveyancing fees: £25,000

GROSS RENT

£144,600

GROSS YIELD

5.8%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

25

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

14,480

PRICE SQ FT

£173

GROUND RENT

£5,000

SERVICE CHARGE

£14,840

Leasehold information

  • Length of lease: 250 years
  • Year lease started: 2019
  • Years left on lease: 247 years (from 2022)
  • Ground rent review period: tbc
  • Service charge review period: tbc

Block information

  • Converted shopping centre to residential
  • The building consists of 53 units of which 25 are available, comprising:
    • 17 x 1-bed apartments
    • 8 x 2-bed apartments
  • Apartment sizes vary between 380 - 921 sqft
  • EPC ratings D & E
  • Council tax band B

Rental information

  • At the time of listing all but one of the units are let
  • Once fully let the units are expected to achieve:
  • Monthly rental income £12,050
  • Annual rental income £144,600

Location information

  • The property is located in the heart of Wrexham town centre
  • All of the town centre amenities and shops are on the doorstep
  • Wrexham Central railway station can be reached in under 10 minutes on foot

Notes

Please note that Vesta has not visited this property and that the vendor has provided all material.

The floorplans are examples of a 1-bed and 2-bed apartment in this development. Layout and sizes will vary.

The photos are for illustrative purposes only and represent apartments within the building.

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 Wrexham, Wales

Wrexham is the largest town in the north of Wales and lies between the Welsh mountains and the lower Dee Valley alongside the border with England and around 14 miles south of Chester.

Wrexham town centre is orbited by a ring road. The A483 is the principal route in town and connects it with the A55/M53 and A5/M54.

The town has four railway stations Wrexham General, Wrexham Central, Gwersyllt and Ruabon. Wrexham General is on two different lines, the Shrewsbury to Chester Line and the Borderlands Line. Wrexham Central is a small station and is on the Wrexham to Bidston in Birkenhead Borderlands Line. Gwersyllt serves the Wrexham suburb of the same name and is a stop on the Borderlands line between Wrexham General and Bidston. Ruabon is a bus and mainline rail interchange located in South Wrexham. It lies on the Shrewsbury to Wrexham line between Chirk and Wrexham General. Trains run northbound to Chester and Holyhead connecting with the ferries to Dublin Port and southbound to Shrewsbury and either Cardiff Central or Birmingham New Street.

Wrexham town centre is going through widespread change which includes a new tourist information centre plus shop selling local produce, a café and event space. This is set to open in Spring 2020. Nationwide Building Society is also investing in the town centre and is relocating their branch to a bigger space set to open in 2020. In Henblas Street a disused shopping area is going to be developed into a multi-purpose site including Sports Direct, eateries, housing and independent retail.

Hope Street and Bank Street are just two of several shopping streets within the mainly pedestrianised town centre, where major retailers such as New Look, WH Smith and Claire’s as well as independent businesses can be found. Eagles Meadow shopping centre is also home to the usual High Street favourites. Wrexham continues its market town tradition with two architecturally significant Victorian indoor markets, Butchers and General and an open-air market on Mondays.

Some of the top local attractions include Pontcysyllte Aqueduct, the National Trust owned Erddig Park with its hall and formal gardens, Ty Mawr Country Park, Techniquest Glyndwr, Bangor-on-Dee racecourse, Alyn Waters Country park and Wrexham County Borough museum.

Wrexham has a number of primary and secondary schools. Yale College is one of the largest colleges in Wales and provides a wide range of higher education courses as well as adult education. Glyndwr University is an accredited institution of the University of Wales with around 8,000 full-time students as well as 350 international students. It offers both undergraduate and postgraduate degrees.

Wrexham’s largest employers include Wockhardt and Ipsen as well as other biopharmaceutical companies. JCB can be found on the Wrexham Industrial Estate, and ACT and Magellan Aerospace are also major employers in the area, whilst Airbus is in nearby Broughton. Food manufacturers like Kelloggs, Cadbury, Calypso and Village Bakery also have sites here as well as electronics companies Sharp and Brother.

Queen Street,

Wrexham,

Wrexham Principal Area,

Wales,

LL11 1AB

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