82-86 London Road, Coventry, West Midlands, CV1 2JT
For Sale £1,300,000Coventry
Warwickshire
CV1 1DY
Description
- Residential Investment
A rare opportunity to purchase a local established business that brings in regular rental income, owns the freehold property and also has a commercial lease that in total that brings in a combined yearly gross income in excess of £150,000.
The Company Sale on offer consists:
16 self contained studio apartments situated in a popular residential location that is within walking distance of Coventry city centre, and is conveniently positioned for major road network links leading to A46, A444 and other major motorways. The property itself is a traditional brick built property with rear
parking space with the AST lets agreed to working professionals.
The modern and recently refurbished units consist of modern fitted kitchen with oven, double hob and fridge, en-suite bathroom with walk in shower, w/c and
sink. entrance hallway to each floor, bedroom with bed, chest of drawers, desk and chair. Some units slightly vary as outlined in the floor plans provided.
Council tax is band A and due, dependent on individual circumstances. The whole property benefits from a communal laundry room, parking and bills being
included within the rent. In total there are 12 apartments within the Freehold property with a further 4 apartments adjacent.
An additional 4 self contained apartments are located in the neighbouring property that currently forms part of a lease agreement. The fit and style of studio apartment are in keeping with all units, an opening has been created in the dividing wall to provide internal connection between both properties. A commercial lease is in place with an expiry date of 2036. The current rent is £7,200 per annum and at the tenant has security of tenure.
Annual rent for the business is £150,840. 100% shares are available in the purchase of the company.
Energy Rating for each individual unit is C or D , with communal areas rated at E.
Key Facts
In more detail
A rare opportunity to purchase a local established business that brings in regular rental income, owns the freehold property and also has a commercial lease that in total that brings in a combined yearly gross income in excess of £150,000.
The Company Sale on offer consists:
16 self contained studio apartments situated in a popular residential location that is within walking distance of Coventry city centre, and is conveniently positioned for major road network links leading to A46, A444 and other major motorways. The property itself is a traditional brick built property with rear
parking space with the AST lets agreed to working professionals.
The modern and recently refurbished units consist of modern fitted kitchen with oven, double hob and fridge, en-suite bathroom with walk in shower, w/c and
sink. entrance hallway to each floor, bedroom with bed, chest of drawers, desk and chair. Some units slightly vary as outlined in the floor plans provided.
Council tax is band A and due, dependent on individual circumstances. The whole property benefits from a communal laundry room, parking and bills being
included within the rent. In total there are 12 apartments within the Freehold property with a further 4 apartments adjacent.
An additional 4 self contained apartments are located in the neighbouring property that currently forms part of a lease agreement. The fit and style of studio apartment are in keeping with all units, an opening has been created in the dividing wall to provide internal connection between both properties. A commercial lease is in place with an expiry date of 2036. The current rent is £7,200 per annum and at the tenant has security of tenure.
Annual rent for the business is £150,840. 100% shares are available in the purchase of the company.
Energy Rating for each individual unit is C or D , with communal areas rated at E.
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