Opportunity to acquire a discounted freehold mixed-use investment opportunity for 3 apartments, 1 town house and a retail unit.
The existing property comprises a recently refurbished end-of-terrace building comprising 3 apartments, 1 town house and a retail unit arranged across ground, first and second floor on a site extending to a total area of approximately 0.12 acres.
The apartments comprise 3 x 2 bed apartments, arranged across ground and first floor, extending to a total area of approximately 2,542 sq ft NSA. The apartments are fully let on AST’s and generate a combined rental income of £50,340 per annum.
Peach House comprises a 4-bedroom semi-detached house arranged from ground to second floor, extending to a total area of approximately 2,960 sq ft GIA. Peach House is let on an AST and currently generates a rental income of £22,200 per annum.
The property also comprises a street facing retail unit on the ground floor, extending to a total area of approximately 907 sq ft NIA and is currently let at a rent of £26,004 per annum.
The property therefore generates a combined rental income of £98,544 per annum.
We believe the property has an ERV of approximately £119,000 per annum, reflecting an initial yield of 6.80% at the purchase price.
The property has been refurbished to a high standard throughout, with all apartment bedrooms including an en-suite.
The gated car park to the rear provides all three apartments their own allocated parking space with Peach House having 2 spaces.
Both apartments on the first floor have their own terrace area with the ground floor apartment and Peach House both benefiting from their own private courtyard.
Location
The property is located on Peach Street, Wokingham and is approximately a 15-minute walk to Wokingham railway station, providing services to London Paddington within 35 minutes.
Accommodation
Total area of approximately 0.12 acres.
Terms
Tenure - The property is available freehold subject to the existing tenancies.
Price on Application