- An opportunity to acquire a newly refurbished residential investment property providing specialist supported accommodation.
- Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.
- The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.
- Comprises 6,264 sq ft GIA.
- Let on a new 20-year FRI lease to Inclusion Homes CIC with annual CPI linked increases.
- Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.
- Current passing rent £131,560 per annum.
- Freehold.
PROPOSAL
Offers are sought in excess of £1,800,000 (One Million Eight Hundred Thousand Pounds) subject to contract.
A purchase as the asking price would reflect a Net Initial Yield of 6.88% assuming standard purchasers costs of 6.22%. This equates to a very low Capital Value of £287 per sq ft.
