44 bedroom shared living/flatmate for sale

Overview

Investment Consideration: Gross Initial Yield: 6.00% Rental Income: £360,130 p.a. VAT is NOT applicable to this property Comprises residential block of 28 flats (12 x 1-Bed & 16 x 2-Bed) Currently operated as a serviced apartments by Charles Hope Planning previously granted in 2017 (now lapsed) for erection of a roof extension to create 2 additional floors containing 12 flats Prominent central location within short walk from Swindon Train Station and retail occupiers nearby including Tesco Express, Greggs, Costa Coffee, H&M and Superdrug, amongst others Swindon train station offers 80+ direct departures daily to London Paddington, with a travel time of approximately 1 hour. Property Description: Comprises residential block of 28 self-contained apartments (12 x 1-Bed and 16 x 2-Bed), currently operated as a serviced apartments, providing the following accommodation and dimensions: Ground Floor: Flat 1 - 58.9 sq m (634 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 2 - 76.2 sq m (820 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 3 - 45.6 sq m (491 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 4 - 43.1 sq m (464 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 5 - 46.2 sq m (497 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 6 - 42.8 sq m (461 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 7 - 62.5 sq m (673 sq ft) 2 bedrooms, kitchen/living room, bathroom First Floor: Flat 8 - 63.2 sq m (680 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 9 - 76.2 sq m (820 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 10 - 44.4 sq m (478 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 11 - 43.1 sq m (464 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 12 - 46.2 sq m (497 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 13 - 42.8 sq m (461 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 14 - 62.5 sq m (673 sq ft) 2 bedrooms, kitchen/living room, bathroom Second Floor: Flat 15 - 63.2 sq m (680 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 16 - 76.2 sq m (820 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 17 - 44.4 sq m (478 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 18 - 43.1 sq m (464 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 19 - 46.2 sq m (497 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 20 - 42.8 sq m (461 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 21 - 62.5 sq m (673 sq ft) 2 bedrooms, kitchen/living room, bathroom Third Floor: Flat 22 - 63.2 sq m (680 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 23 - 76.2 sq m (820 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 24 - 44.4 sq m (478 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 25 - 43.1 sq m (464 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 26 - 46.2 sq m (497 sq ft) 2 bedrooms, kitchen/living room, bathroom Flat 27 - 42.8 sq m (461 sq ft) 1 bedroom, kitchen/living room, bathroom Flat 28 - 62.5 sq m (673 sq ft) 2 bedrooms, kitchen/living room, bathroom Development Potential: Planning previously granted in 2017 (now lapsed) for erection of a roof extension to create 2 additional floors containing 12 flats. Fourth Floor: 310.7 sq m (3,344 sq ft) Flat 29 (1-bed) - 51.2 sq m (551 sq ft) Flat 30 (2-bed) - 58.1 sq m (625 sq ft) Flat 31 (1-bed) - 39.8 sq m (428 sq ft) Flat 32 (1-bed) - 36.2 sq m (390 sq ft) Flat 33 (2-bed) - 59.1 sq m (636 sq ft) Flat 34 (2-bed) - 66.3 sq m (714 sq ft) Fifth Floor: 317.4 sq m (3,406 sq ft) Flat 35 (1-bed) - 47.7 sq m (513 sq ft) Flat 36 (2-bed) - 60.3 sq m (639 sq ft) Flat 37 (1-bed) - 39.8 sq m (428 sq ft) Flat 38 (1-bed) - 44.2 sq m (476 sq ft) Flat 39 (2-bed) - 59.1 sq m (636 sq ft) Flat 40 (2-bed) - 66.3 sq m (714 sq ft) For more information, please refer planning application S/17/1109 on Swindon Planning Portal: Tenancy: The entire property is at present let to Charles Hope Holdings Ltd* for a term of 6 years from 25th March 2022 at a current rent of £360,130** p.a. and the lease contains internal repairing and insuring covenants. Tenant option to determine on 25.04.25 with min 6 months notice. Tenant currently pays rent of £353,035 p.a. Fixed increase to £356,565 p.a. on 04.04.25 Fixed increase to £360,130 p.a. on 04.04.26 Fixed increase to £363,731 p.a. on 04.04.27 *Charles Hope is one of the fastest growing Serviced Accommodation providers in UK, with locations including Canary Wharf, Heathrow South, Uxbridge, Key Bridge, Manchester, Birmingham, Reading, Southampton, Leicester, Aberdeen and many more. The group reported annual revenue of £7m in 2020, £9m in 2021 and £13m in 2022. Source: **Vendor will top-up rent, so the buyer receives the equivalent to 2026 fixed increase from successful completion. Location: Swindon lies on the M4 corridor, 71 miles (114km) to the west of London and 36 miles (57 km) to the east of Bristol. The Cotswolds lie just to the town's north and the North Wessex Downs to its south. The property is situated on a prominent central location within short walk from Swindon Train Station and retail occupiers nearby including Tesco Express, Greggs, Costa Coffee, H&M and Superdrug, amongst others. Swindon train station offers 80+ direct departures daily to London Paddington, with a travel time of approximately 1 hour. For more details and to contact: https://realtyww.info/rooms_1_swindon-d196346/for-sale_i70646817

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