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Virginia House The Butts 42 Unit Apartment Building £2,750,000 (£65,476/Unit) 4.95% Net Initial Yield Worcester WR1 3PA
INVESTMENT HIGHLIGHTS
- 18 Studio Rooms, 12 Studio Delux Rooms & 12 Double Rooms.
- The property is situated in Worcester city centre, adjacent to The Hive Library.
- The property has been converted & refurbished to a high specification.
- Provides long term income security with minimal asset management input.
- Ground floor cinema room, gym, dining and recreational areas.
- Only 450 m from The University of Worcester City Campus.
- Let in its entirety to Virginia House Ltd for a term of 125 years from March 20.
- Freehold.
EXECUTIVE SUMMARY
The property is available for offers in excess of 2,750,000 for the freehold interest, based upon the topped up rent of £145,000 per annum, a purchase at this level reflects a net initial yield of 4.95%.
PROPERTY FACTS
| Price | £2,750,000 | Property Subtype | Apartment |
| Price Per Unit | £65,476 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Costar Property Class | B |
| Yield | 4.95% | Total Plot Size | 0.23 ac |
| Tenure | Freehold | Property Size | 15,332 sq ft |
| No. Units | 42 | No. Floors | 4 |
| Property Type | Build-to-Rent | Year Built/Renovated | 1979/2020 |
| Price | £2,750,000 |
| Price Per Unit | £65,476 |
| Sale Type | Investment |
| Yield | 4.95% |
| Tenure | Freehold |
| No. Units | 42 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | B |
| Total Plot Size | 0.23 ac |
| Property Size | 15,332 sq ft |
| No. Floors | 4 |
| Year Built/Renovated | 1979/2020 |
AMENITIES
UNIT AMENITIES
- Microwave
- Kitchen
- Oven
- Wi-Fi
SITE AMENITIES
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 30 | - | - |
| 2+2 | 12 | - | - |
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Virginia House | The Butts
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