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Residential Investment Opportunity , 11 and 12 Westminster Road, Coventry, CV1 3GA

not specified / Other / Residential

Withdrawn - Last updated: 23 May 2022

Fully let and operational residential investment. Formerly two terraced properties, the developers have completely refurbished and extended the accommodation to create 20 en-suite studios with their own kitchen facilities. The property benefits from key security front door access, CCTV monitored lobby and communal areas, with individual digital security locks to all studios. Inside the studios most of which are suitable for double occupancy, there is an en-suite shower room, kitchinette including fridge/ freezer, sink, microwave and hob, built in wardrobe and desk/ works space area.

The studios have the benefit of communal facilities including a gym, sauna and laundry room at basement level and additional kitchens and social areas at ground floor. Externally there is a secure bike store, central outside seating area and a secure rear communal space, with picnic tables, bbq and table football. The properties have been refurbihed to the highest specification with every insulation and fire prevention strategy installed to produce a very safe environment that is highly cost efficient. Current yearly utility and council tax costs £XXX with management and letting at 10% of gross rent and a 5% contingency.
( Agency Pilot Software Ref: 1923 )

Location

Located in excellent proximity to Coventry City Centre, Westminster Road is the young professional location of choice, beng 365m from the city central train station and with Central 6 retail park directly behind 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.

Accommodation

20 Studios (3,150 sq ft/ 292.67 sq m )

Terms

Tenure The freehold of the two properties are for sale as one.

Services All mains services are connected.

EPC Both buildings have a Rating of B, with the developers priding themselves on their heat efficiency

Specification

• Fully let delivering £XXX 10.14% Gross Yield
• Located 365m from Coventry City train station
• Fully refurbished to produce 20 self contained studios
• Fully let to young professionals
• Gym, Sauna, Laundry, communal kitchens and social areas
• Landscaped external areas including picnic tables, bbq and table football


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