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AGENT'S DETAILS


Runcorn - Leasehold Portfolio of 50 Apartments Let on Assured Shorthold Tenancies

For sale: POA|21210 Sq Ft|Residential, Flat, Other, Industrial, Office, Retail, Other Property Types & Opportunities, Offices

PROPERTY DETAILS

FOR SALEPOA
SIZE21210 Sq Ft
ADDRESSCastleview House, East Lane, Runcorn WA7 7DN
TYPEResidential, Flat, Other, Industrial, Office, Retail, Other Property Types & Opportunities, Offices
TENUREFor Sale Leasehold
POSTED ON20th September 2020

DESCRIPTION

Investment Consideration:
Rental Income: £246,600 p.a.
Comprising a portfolio of 50 Apartments which is part of a residential three-storey block with a total of 248 residential units.
The portfolio consist of 6 x Studio Apartments and 44 x 1-bed Apartments, arranged over first and second floor.
Newly built apartments.
Held on a 125 year lease from 2017.
Residential car park on site.
Located within walking distance from Runcorn Shopping Centre and Trident Park Centre.
The fantastic location offers everything Merseyside has to offer on the doorstep including Liverpool John Lennon Airport, Universities and Colleges.
VAT is NOT applicable to this property.

Property Description:
The portfolio of apartments comprises 6 x Studios and 44 x 1-bed Apartments arranged over first and second floor. The flats are newly built to a high standard, being part of a converted three-storey office building comprising 248 residential units in total.

The portfolio provides the following accommodation and dimensions
First Floor: 895.59 sq m (9,640 sq ft)
5 x Studio Apartments - 176.52 sq m (1,900 sq ft)
18 x 1-bed Apartments - 719.07 sq m (7,740 sq ft)

Second Floor: 1,074.89 sq m (11,570 sq ft)
1 x Studio Apartments - 36.23 sq m (390 sq ft)
26 x 1-bed Apartments - 1,038.66 sq m (11,180 sq ft)

Tenancy:
The portfolio is fully let and generates an income of £246,600 p.a. Full tenancy schedule can be provided upon request.
Leasehold terms: 125 years from 2017

Ground rent total: £12,500 p.a.
Studio Apartment - £250 p.a.
1-bed Apartment - £250 p.a.

Service charge total: £23,300 p.a.
Studio Apartment - £400 p.a.
1-bed Apartment - £475 p.a.

Studio Apartment: 34-36 sq m (370-390 sq ft)
Living Room/Kitchen - Wall mounted heater, TV and phone points. To one end is a kitchen with oven, integrated electric hob and extractor with splash backs. Fridge and Stainless steel sink inset to worktop. Ceiling light points. Wall mounted heater. Double glazed windows.
Shower Room – Tiled shower cubical with wall mounted shower, low level WC and pedestal hand wash basin. Recess lighting, laminate floor and extractor fan.

1 – Bedroom Flat : 40 sq m (430 sq ft)
Lounge - Generous sized living area with window to front and electric radiator.
Kitchen - Fitted with a range of wall and base units with complimentary working surfaces. Stainless steel sink unit, built in oven, hob and extractor, fridge freezer, splash back tiling and sockets.
Bedroom – Window and electric radiator
Shower Room – Tiled shower cubical with wall mounted shower, low level WC and pedestal hand wash basin. Laminate floor and extractor fan.

Location:
Runcorn is an industrial town and cargo port in the Borough of Halton in Cheshire, England. The town is in the southeast of the Liverpool City Region on the southern bank of the River Mersey where the estuary narrows to form the Runcorn Gap. The expressways form a ring road around the town in a figure of eight and are intended to keep all through traffic off the local roads. This system links north to Widnes and Liverpool by the A533 over the Merse Gateway bridge, east to Warrington by the A56, south to Northwich and north Cheshire by the A533, and west by the A557 to the M56 and to Frodsham. The M56 links to the M6 and, to the north of Widnes, the A557 links to the M62. The property is located within walking distance from Runcorn Shopping Centre and Trident Park Centre. Runcorn Shopping Centre, previously known as Halton Lea comprises over 85 shopping units including banks, bakeries, clothing shops, electrical shops and general supermarkets. In addition the adjacent Trident Park includes a huge multi-screen cinema and many other large retail outlets.

LOCATION

Location: Castleview House, East Lane, Runcorn WA7 7DN

Runcorn East (0.8 miles)

Runcorn (2.3 miles)

Frodsham (2.8 miles)

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