Freehold Investment SOLD Block of 10x Flats & 10x Garages
Freehold residential investment SOLD by Star Property, the property comprises of a freehold block of 10x flats consisting of 7x two beds, 1x one bed and 2x three beds with 10x garages at the rear of the complex within substantial grounds just outside Littlehampton town centre.
Wellesley Court, Littlehampton is one of latest residential investment sales completed by Richard Lowrey commercial director of Star Property. We have seen an increasing demand for this type of investment as people look to improve returns on their money who also want future value add angles within the investment.
The property offers a number of potential value add options including rental increases, potential re-development as well as asset management. The building currently produces circa £88,000 per annum and was sold for £1.355m a net initial yield of 6.13%.
These types of transactions can often be a complex process, with multiple AST's and other moving parts, agreeing the sale is just the start of the process, guiding the property through the legal process to completion is the key. This is why having an experienced investment agent on board like Star Property is crucial to ensure you have the right advice.
We currently have a number of further requirements for investment buildings like this, if you have a property within Sussex which you are considering selling and you would like to discuss your options or arrange a valuation please get in contact with Richard Lowrey.
Tel: 01273-037194 / 07725-723021