Investment Properties for sale in Burnley

This business has been SOLD, however we have a range of similar businesses that are still available below...

Portfolio of Residential in Burnley

Burnley, Lancashire, England

  • Freehold Price: £775,000
  • Sold
Seller Reference: HARMSWORTH3715
Business Description
Seller Reference: HARMSWORTH3715
Business Description
A fantastic opportunity to acquire 14 freehold, currently fully let residential properties generating an income of 9% p.a. With a slight moderate tweak in the next 12 month this could increase to closer to 10%. These properties are let out to both blue chip clients (company lets) and regular AST tenants which has proved a highly successful business. A purchaser would immediately have an impressive income without rent void periods or worry. There is also a terrific uplift opportunity on this...
A fantastic opportunity to acquire 14 freehold, currently fully let residential properties generating an income of 9% p.a. With a slight moderate tweak in the next 12 month this could increase to closer to 10%. These properties are let out to both blue chip clients (company lets) and regular AST tenants which has proved a highly successful business. A purchaser would immediately have an impressive income without rent void periods or worry. There is also a terrific uplift opportunity on this portfolio and early viewings are highly recommended....

LOCATION

Burnley is a thriving market town surrounded by the breath-taking Pennine countryside. Whether you like hiking, cycling, windsurfing, kayaking, horse riding, golf or sailing, it’s all available right here. Burnley was identified as one of the UK’s top towns for the growth of its digital technology sector, according to information compiled by Tech Nation 2018. In 2010 Burnley established a state of the art and sought-after University. The town benefits from good arterial road links and both excellent train and bus links to the rest of the UK.

BUSINESS

This investment has been owner operated successfully for many years with local representation. It is remotely managed from Devon which has proved to be simple and for someone seeking a successful easily managed property portfolio, this is probable as good as you will ever get. With the University demand for additional quality accommodation, this is an ideal opportunity to keep the blue-chip company and if the existing AST tenanted properties were to be converted to student lets the gross return would be nearer 15%.

PROPERTY DETAILS

Address Type No ofreception No of
bedrooms Tenancy type
1 Herbert Street Mid terrace 1 + B 3 AST
2 Waterbarn Street Mid terrace 2 2 AST
3 Queensberry Road Mid terrace 2 3 AST
4 Sandhurst Street End Terrace 2 2 Company Let
5 St Andrews Street End Terrace 2 3 Company Let
6 Green Street Mid terrace 2 2 Company Let
7 Green Street Mid terrace 2 2 AST
8 Ford Street Mid terrace 2 2 AST
9 Towneley Street Mid terrace 2 2 Company Let
10 Waterbarn Street Mid terrace 2 2 Company Let
11 Kyan Street End Terrace 2 2 AST
12 Pembroke Street Mid terrace 3 3 Company Let
13 Brennand Street Mid terrace 2 + B 2 AST
14 Brush Street End Terrace 2 2 AST

INCOME

The total income for the above properties without void period is £69,740 per annum. (full breakdown of individual properties is available).

SERVICES

All the properties benefit from the following: electricity, gas, water supply, sewage, which, are all connected. None of these services have been tested by the agents Ware Commercial

RATEABLE VALUE

Ware Commercial understands all the properties are in Council Tax Band A but please make your own enquiries on the local Valuation Office Agency, telephone 03000500246 or on the Valuation Website (VOA) at www.voa.gov.uk

TENURE

FREEHOLD

VIEWINGS

All viewings are to be conducted strictly by appointment via the agents Ware Commercial
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