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- An opportunity to acquire a residential property let on a 25 year, fully repairing and insuring commercial lease to Midland Living CIC.
- The building is arranged as 7 self contained units and a staff office.
- Arranged over basement, ground, first & second floors, the building measures approximately 1,745 sq ft.
- Current passing rent of £51,278.56 per annum.
- The building is occupied on a 25 year lease from 17th August 2021.
- Annual uncapped upward only CPI linked rent reviews. The rent is forecasted to increase in 2023 to £55,073 per annum.
- The building has recently undergone a full programme of refurbishment.
- Freehold.
- Specialist Social Housing.
- OIEO £625,000 (Six Hundred & Twenty Five Thousand Pounds) Subject to Contract. A purchase at this level reflects a 7.88% NIY, reversionary to 8.46% based on the forecasted rent increase, after applying purchasers costs of 4.12%.
