Summary
The property comprises a detached three storey building, providing 27 no. studio apartments. A schedule of accommodation and floor plans are available on request.
The apartments benefit from the following specification;
- A kitchen providing an oven and induction hobs
- An en-suite bathroom
- Furniture including a bed, wardrobe, table, chairs and sofa
- High speed broadband
- Communal laundries, cycle and bin storage
- Some apartments have balconies/terraces
An adjacent site under the same ownership offers further development potential – information available on request.
Key Points
Newbury Town Centre27 no. studio apartments9 no. car parking spacesFully let asset producing c. £285,600 per annumHigh quality conversion completed in Q4 2020High specification resident amenitiesFurther development potential
Viewings
Please contact the sole agents for further information or an appointment to view.
Tenancy
The apartments are let to private tenants on AST agreements. The current occupancy rate is 100%. The apartments are let without parking, with parking available as an optional extra.
The current total rental income of the apartments is c. £277,000 per annum (based on 100% occupancy rate).
The current total rental income of the car parking is c. £8,600 per annum (based on 100% occupancy rate).
Offers
The freehold interest is offered for sale.
All offers should state whether they are submitted with or without Board approval and whether they are dependent on bank or similar finance being available with confirmation or proof of funding.
All offers should be marked “Sherwood House, Newbury – Offer to Purchase” and addressed to:
Mr Ed Ponting, Haslams Surveyors LLP, County House, 17 Friar Street, Reading, Berkshire, RG1 1DB.
Legal Costs / VAT
Each party to bear their own legal costs.
This property is not elected for VAT.
Location
The property is situated on the north side of London Road, in the centre of the popular West Berkshire town of Newbury. Numerous amenities are situated a short walk from the property, as is Newbury Railway Station which provides direct services into Exeter, Reading and London Paddington. Newbury is served by J13 of the M4.