17 - 24 Queens Road and 1 Regent Street, Coventry, CV1 3EG

Description

The development comprises 8 former office buildings in a row, numbers 17 - 24 on Queens Road in central Coventry. The properties are all three storey terraced buildings of traditional brick construction under tiled, pitched roof and fronting Queens Road. Each property has been completely refurbished to a high standard to provide between 14 and 24 en-suite studio HMOs with communal kitchens and dining areas in each house.
Internally the properties have commercial covering over timber floors for added life, painted cement board walls and painted plastered ceilings throughout. The ground floors in the respective buildings have a part concrete floor and timber upper floors
In each house the ground floor opens to a reception hall accommodating the utility cupboard, stairs to the upper floors, basement, ground floor bedrooms and the communal kitchen/ dining areas.
All of the bedrooms have kitchenettes and en-suite with shower, WC with wash hand basins. The rooms vary in size from 12.11 sq m - 36.12 sq m, but an average size of 17.3 sq m with rents reflective of the changing sizes. Many of the rooms are capable of being used for double occupancy and each room has a combination door lock.
The properties benefit from communal kitchen/ dining areas at ground and first floor, gas fired tumble driers, separate meters, two 40Kw boilers, CCTV over communal areas and a central network/ Wifi access as well as independent router connection to each room.
Externally to the front and the rear each building has hard surfaced areas providing parking. To the rear of all the buildings is an area that houses an Astro turf 5 a-side football pitch/ basketball court, BBQing area, covered relaxation area with seating, pilates studio, bike storage and home cinema block, with sound system and table tennis table. To the front of this block is the management offices for the development and a further area of parking. The rear land is securely fenced with a keypad access entrance gate.
Further pictures and information at company website https://amuletsltd.co.uk/home


Situation and Location

Located in excellent proximity to Coventry City Centre, Queens Road is the young professional location of choice, being 500m from the city central train station and with Central 6 retail park in close proximity and the new Friargate office and leisure development in front of the station, it couldn't be better located. The city central retail and leisure areas are 5 minutes walk away and Coventry University is 10 minutes walk. Coventry's central ring road is 50m from the buildings, giving vehicular access to the rest of Coventry City. �

EPC Description

All buildings have excellent EPC Ratings of either high C or B

Viewing

Strictly by appointment with the agent Bromwich Hardy.

Legal Costs

Each party is to bear their own legal and surveyors costs incurred in this transaction.

116 apartments, fully let to young professionals and post graduate students

Gross Income of £XXX pa currently

Net Internal Area of 24,888 sq ft across 9 buildings

Total site area of 1.2 acres with significant space to the rear for further construction

Yearly utility costs at £XXX pa

Average rental of £XXX per calendar month, average rental £XXX per sq ft pa

Potential further development area of 0.4 acres Subject To Planning Permission

Significant recent rental growth in Coventry City Centre

Gross Yield of 9.11% and Net Yield of 8.01% on Existing accommodation

Average apartment size of 17.35 sq m
( Agency Pilot Software Ref: 2075 )