329 Linthorpe Road
Middlesbrough
TS5 6AA
BRIDGEHOUSE COURT, Skinningrove
Offers invited £1,600,000
Apartment - Purpose Built
- A RARELY AVAILABLE LARGE SCALE SERVICED ACCOMMODATION INVESTMENT OPPORTUNITY
- BVENEFITTING FROM A SEASIDE LOCATION POPULAR WITH TOURISTS
- A STRONG HISTORY OF BEING OCCUPIED
- LUXURY SPECIFICATIONS AND FURNISHINGS THROUGHOUT THE PORTFOLIO
POTENTIAL GROSS YIELDS OF 21%! A READY MADE INVESTMENT OPPORTUNITY AVAILABLE TO ANYONE WISHING TO SECURE A STANDOUT QUALITY 'MULTI-UNIT' DEVELOPMENT SUITABLE FOR THE HOLIDAY LET OR CONTRACTOR MARKET IN THIS COASTAL VILLAGE / TOWN OF SKINNINGROVE. THERE IS CURRENT A CORPORATE LEASE IN PLACE FOR ALL THE PROPERTIES AT A FIXED FIGURE OF £6,800 PCM (THEREFORE A GUARANTEED ANNUAL RETURN OF £81,600). THIS ACTS AS A SAFETY NET FOR ANY INCOMING PURCHASER HOWEVER THIS COULD BE REMOVED SO THE NEW OWNER COULD BENEFIT FROM THE FULL INCOME AND HANDLE THE MARKETING THEMSELVES (PERSONALLY OR VIA AN AGENT) ON-GOING SHOULD ANY BECOME VACANT. THE GROSS RETURN THEN BASED ON FULL OCCUPANCY WOULD BE IN THE REGION OF £335,000 PER ANNUM HOWEVER AS EVER IT IS LIKLEY THAT THERE WILL BE SOME VOIDS DURING 12 MONTHS OF MARKETING. IN TOTAL THIS OFFERING INCLUDES;- THREE 2 BED APARTMENTS, FIVE 1 BED APARTMENTS,ONE 3 BEDROOM TOWN HOUSE, AND TWO 4 BEDROOM TOWN HOUSES WHICH HAVE GARDENS AND GARAGES.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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