The Old School Lofts, 118 Millgate, Selby YO8 3LL
Address: The Old School Lofts, 118 Millgate, Selby YO8 3LL
Price: £450k
Market Value: £650k
Negotiated Price: £450k
An opportunity has arisen to purchase a portfolio of 6 luxury apartments recently converted within a former Church Hall. Conveniently located with a town centre location the conversion consists of 2 x 2 bed apartments and 4 x 1 bed apartments. The location offers a fantastic opportunity for capital growth and will bring in a rental income of approximately £2830 p.m. Title is currently on a freehold but can be split down into individual leases if required.
Rental Income
An opportunity has arisen to purchase a portfolio of 6 luxury apartments recently converted within a former Church Hall. Conveniently located with a town centre location the conversion consists of 2 x 2 bed apartments and 4 x 1 bed apartments. The location offers a fantastic opportunity for capital growth and will bring in a rental income of approximately £2830 p.m. Title is currently on a freehold but can be split down into individual leases if required.Rental Income
The rental yield based on a purchase price of £450k is 6.3%. The port folio as a whole will generate a rental income of £2830 p.m.Proposal
We have on your behalf negotiated a purchase price of £450,000 for the entire port folio with a valuation of £650,000.which is a discount of just over 30%. We will arrange the mortgage and instruct the solicitors on your behalf. 2 tenants have already been secured and we will assist you in finding tenants for the remaining apartments. Please ask us about the guaranteed rents arranged through the local council.Fees
Property First will charge a 2% finders fee for this portfolio. You will be responsible for the mortgage costs and the sellers solicitors fee’s.