Residential Investments for sale in Thurso

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I can honestly say I was overwhelmed by the amount of interest and enquires this generated. Very easy to advertise your business with great results!

Jo White (April 2016)
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Freehold Price: £850,000
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Business Description
CCL Property are delighted to present an attractive residential investment opportunity situated in the tranquil village of Halkirk, Caithness. Originally a poorhouse dating from 1856, Fairview House is a substantial residential complex comprising of 17 individual flats. There are one, two and three bedroom flats arranged over two floors. Fairview House provides rentals to a variety of clientele with different requirements.

Rental yield is above the national average at 7.5 %.

With full factoring in place the property can easily be owned and managed from a distance.

Multi-tenant residential investment.
Achievable rent of c. £60,000 p.a.
Yield 7.5%
Short Scottish Secure Tenancy (SSST) agreements throughout.
Capacity to increase rental income and alter lease agreements.
Rent review due
Occupancy rates typically 90%
Fully factored
Easily managed
Offers Over £850,000

Occupation levels at Fairview House are kept at a high level primarily due to the requirements of local employers requiring additional staff and project workers for specific periods.

The decomisioning of Dounreay has brought hundreds of new workers to the area, primarily they are contract specialists working in the are for periods of between 6 and 12 months. There is also a great deal of activity in the Renewables Energy Sector which is attracting a great deal of investment.

The rotation of these workers has resulted in a smooth switch over of tenants within Fairview, minimising the time the flats lay empty.
Tenure: Freehold

Location Details:

Fairview House is situated at the northern end of the village of Halkirk which is located on the River Thurso. Fairview House enjoys views over the Caithness countryside whilst the village provides a number of amenities and services. Despite its small size, Halkirk has a primary school which is attended by over 130 pupils, for secondary education pupils have to travel to Thurso, just 5 miles north.With a population of over 8,000 Thurso has a good number of shops and other necessary amenities to suit all needs including a hospital, dentists and doctor surgeries. Leisure activities such as swimming, cinema and a bowling alley are located here. Bus and train links to Inverness connect this town to the capital of the Highlands where further connections to the other major UK cities can be found. Inverness also has an airport which has frequent domestic and European flights. Wick, located 15 miles South East, is the main hub of Caithness providing administrative and community facilities including general hospital, swimming pool, retail parks and Highland Council county offices. A number of leisure activities are on offer for all ages varying from walks, history and culture, leisure facilities, golf and boat tours. The harbour is a commercial port with an extensive marina complex ensuring that Wick is fast becoming a base for leisure boating too.

Downloadable Documents

Listed by: CCL Property Ltd
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