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Aspen House 67 Wembdon Rd 36 Unit Apartment Building £2,150,000 (£59,722/Unit) 9.56% Net Initial Yield Bridgwater TA6 7DR
Investment Highlights
- A rare opportunity to acquire an over-55s residential building let off low rents offering sustainable income with scope for rental growth
- Freehold site totalling approximately 0.9 acres.
- Current gross passing rent of £218,492 (excl laundry income of c.£3,000 pa)
- 36-unit purpose built residential block situated in Bridgwater, Somerset
- 10 apartments sold off long leasehold and 26 apartments let on ASTs/ periodic tenancies
- Offers sought in excess of £2,150,000 reflecting a net initial yield of 9.56% based on the gross passing ren
Executive Summary
The freehold of this residential investment opportunity is available for the guide price of £2.15 million providing a yield of 9.56%.
Property Facts
| Price | £2,150,000 | Property Subtype | Apartment |
| Price Per Unit | £59,722 | Apartment Style | Low-Rise |
| Sale Type | Investment | Costar Property Class | B |
| Yield | 9.56% | Total Plot Size | 0.90 ac |
| Tenure | Freehold | Property Size | 25,594 sq ft |
| No. Units | 36 | No. Floors | 3 |
| Property Type | Build-to-Rent | Year Built | 1988 |
| Price | £2,150,000 |
| Price Per Unit | £59,722 |
| Sale Type | Investment |
| Yield | 9.56% |
| Tenure | Freehold |
| No. Units | 36 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | B |
| Total Plot Size | 0.90 ac |
| Property Size | 25,594 sq ft |
| No. Floors | 3 |
| Year Built | 1988 |
Unit Mix Information
| Description | No. Units | Avg. Rent pcm | sq ft |
|---|---|---|---|
| 1+1 | 15 | - | 420 |
| 2+1 | 21 | - | 600 |
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Aspen House | 67 Wembdon Rd
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