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South Ockendon - Freehold Residential Blocks Investment

For sale: £3,800,000.00|7,974 Sq Ft|Residential

Property details

FOR SALE£3,800,000.00
SIZE7,974 Sq Ft
ADDRESSChapel Court, North Road, South Ockendon, Essex, RM15 6BQ
TYPEResidential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th July 2021

Description

Investment Consideration:
OIEO: £3,800,000
Gross Initial Yield: 4.74%
Rental Income: £180,000 p.a.
Comprises 1 x Detached and 2 x Semi-Detached Residential Blocks on a plot of 0.30 acres
Newly built in 2020 with new modern facilities including private/communal areas and intercom entry phone systems
10 Year New Home Guarantee
15 off-street car parking spaces
Total NIA 741 sq m (7,974 sq ft)
Entire property let to Thurrock Council
Located within 0.5 miles from South Ockendon Train Station
Nearby occupiers include Post Office, Tesco Esso Express, Pharmacy, Takeaway shop and Pub

Property Description:
The property comprises 15 self-contained flats situated within a set of three new build residential blocks. Block A is located just off the main vehicular road of North Road, whereas adjoining Block B and C are set further back and behind Block A. Some of the flats benefit from private outside space by way of lawned/blocked paved patio or balconies. The property provides off-street parking space for each flat.

The property provides the following accommodation and dimensions:
Block A: 4 x 1-Bed and 1 x 2-Bed Flats
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)

Block B: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)

Block C: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)

Total Net Internal Area: 741 sq m (7,974 sq ft)

Tenancy:
The entire property is at present let to Thurrock Council for a term of 3 years from 1st January 2021 at a current rent of £180,000 per annum. The Council is paying rent of £950 pcm for one bedroom apartments and £1,200 pcm for the two bedroom apartments.

Location:
South Ockendon is a town within the Thurrock borough in Essex in the East of England, United Kingdom. It is located on the border with Greater London, just outside the M25 motorway. The property is located a short walk away (approx. 0.5 miles) from South Ockendon Train Station which provides services into London Fenchurch Street one direction and towards Southend the other way. These services run twice hourly. There are also bus routes close by providing regular services to neighbouring areas. The property benefits from close proximity to public transport links and retail amenities of South Ockendon. Occupiers nearby include Post Office, Tesco Esso Express, Pharmacy, Takeaway shop and Pub.

Location

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Location: Chapel Court, North Road, South Ockendon, Essex, RM15 6BQ

Upminster (3.1 miles)

Upminster Bridge (3.6 miles)

Hornchurch (3.9 miles)

Ockendon (0.3 miles)

Upminster (3.1 miles)

Grays (3.5 miles)

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