Current rental income of £62,000 pa
6 Residential properties
4 Commercial properties with flats
Rental income overdue for review
Many longstanding tenants, some over 30 years
EPC - Multiple
Exley estates is a portfolio of investment properties set around the Keighley area of West Yorkshire
The Properties were built by a sister company of Exley Estates shortly before the Second World War. After their completion, they were moved to the balance sheet of Exley Estates, where they have remained ever since.
Other parts of the estate have over the years been sold, the properties now offered are the last the company owns.
The Directors of Exley Estates are now looking to liquidate their assets and consequently the decision to sell the Limited Company with its balance sheet of the properties has been taken.
The Company's ethos has been since its inception to ensure good covenants for the company whilst also shouldering a degree social responsibility. Consequently there are now second generation tenants within the list of occupants whilst others have been in situ for over 30 years. Rental income is therefore a mix of private rents paid and DSS funding.
As the quality of the covenant is important to the Directors, the properties are in good order with a zero tolerance policy on damage to the properties while good housekeeping has been encouraged.
This ethos has been somewhat at odds with the current rental income that should be achievable for such properties.
This however leaves the possibility for any new owner to immediately rectify the yields provided by the Estate. This would inevitably see the annual rental incomes rise dramatically, perhaps doubling.
Alternatively, a purchaser with an equal social consideration could leave the yields as they are, maintaining a status quo.
This is a tremendous proposition for any new owner and would make a valuable addition to any existing portfolio.
Within the portfolio are 3 commercial properties, these are all let and include 4 bedroom flats above the shop premises which are let separately from the business premises. The flats also have a lounge area, kitchen and bathroom.
These are;7 - 9 Broomhill Ave, Keighley - A double fronted property currently let to Chemist Shop 11 Broomhill Ave, Keighley - Let to a Nail and Beauty Salon. 13 Broomhill Ave, Keighley - Let to a Hairdresser. 46 Ashbourne Road, Keighley - Let to Barber Despite these being associated businesses, the leases are with separate tenants and are autonomous of each other.
There are 6 residential properties let, these are a combination of 2 bedroom and 3 bedroom semi detached houses. The properties were designed to a specification that means they all have a family bathroom, 2 double bedrooms, in the case of the 3 bedroom properties, this is supplemented with a single bedroom. They all have a designated kitchen and lounge area.
91 Broomhill Ave, Keighley - A 2 bed semi detached house
87 Broomhill Ave, Keighley - A 2 bed semi detached house
73 Broomhill Ave, Keighley - A 3 bed semi detached house
26 Exley Grove, Keighley - A 3 bed semi detached house
14 Exley Mount, Keighley - A 3 bed semi detached house.
All the houses have a front garden and were fitted with Central Heating in or around 2005.
Location Details: Keighley
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