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AGENT'S DETAILS


Newly Converted Quality Block of Apartments in Plymouth

For sale: £900,000.00

PROPERTY DETAILS

FOR SALE£900,000.00
ADDRESS22 Lockyer Street, Plymouth, Devon, PL1 2QW
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON2nd October 2020

DESCRIPTION

22, Lockyer Street, Plymouth, Devon, PL1 2QW

22 Lockyer Street is the former Plymouth Chamber of Commerce and is undergoing extensive development which will comprise of 5 flats with the lower ground, ground floor, first floor and second floor being spacious 2-bed apartments and then a large 1-bed apartments on the third floor. The planning number is 19/01413/FUL.

As standard BTL properties, we envisage an income of £58,200 PA which equates to a yield of 6.4% +.

The properties could also be used as ideal short-term rentals for contractors (off-peak) and tourists and there is an expectation that an income of £142,332 can be generated PA which equates to yield of 15.81% gross.

We have a full breakdown available on request.

*Please note that the images used in this listing relate to a completed project by the developer a few minutes walk away. We have CGIs available upon request for 22 Lockyer Street and will be updated the images as the development progresses.

Income
Expected Income

Flat 1 - 2-bed apartment - expected income £12,000 PA

Flat 2 - 2-bed apartment - expected income £12,000 PA

Flat 3 - 1-bed apartment - expected income £12,000 PA

Flat 4 - 1-bed apartment - expected income £12,000 PA

Flat 5 - 1-bed apartment - expected income £10,200 PA

Total - Income £58,200 - Yield 6.4%

Features
Prominent Location

Freehold Block

Completion Expected Winter 2020

Striking Building and Development

Respected Local Developer

Management Agent in Place

Potential Holiday Let Opportunity

2% + VAT Buyers Fee Applies

Photos for illustration purposes only as the block is still currently being developed

LOCATION

Location: 22 Lockyer Street, Plymouth, Devon, PL1 2QW

Plymouth (0.6 miles)

Devonport (1.3 miles)

Dockyard (1.7 miles)

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