Residential investment opportunity of 42 studio apartments available to purchase in Newbury
The property comprises a detached three storey building, providing 42 no. studio apartments. A schedule of accommodation and floor plans are available on request. The apartments benefit from the following specification; - A kitchen providing an oven and induction hobs - An en-suite bathroom - Furniture including a bed, wardrobe, table, chairs and sofa - High speed broadband - Communal laundries - Cycle and bin storage - Some apartments have balconies/terraces
Please contact the sole agents for further information or an appointment to view.
The property is situated on the west side of Oxford Road, in the centre of the popular West Berkshire town of Newbury. Numerous amenities are situated a short walk from the property, as is Newbury Railway Station which provides direct services into London Paddington, Reading and Exeter. Newbury is served by Junction 13 of the M4 Motorway and has swift access to Southampton and the south coast via the A34.
The apartments are let to private tenants on AST agreements. The current occupancy rate is 100%. The apartments are let without parking, with parking available as an optional extra. The current total rental income of the apartments is c. £455,000 per annum (based on 100% occupancy rate). The car parking is approaching a 100% occupancy rate. At 100% occupancy the total rental income for the car park will be c. £35,000 per annum.
The freehold interest is offered for sale. All offers should state whether they are submitted with or without Board approval and whether they are dependent on bank or similar finance being available with confirmation or proof of funding. All offers should be marked “Redbrick House, Newbury – Offer to Purchase” and addressed to: Mr Ed Ponting, Haslams Surveyors LLP, County House, 17 Friar Street, Reading, Berkshire, RG1 1DB.
Legal Costs / VAT
Each party to bear their own legal costs. This property is not elected for VAT.
Newbury (0.6 miles)
Newbury Racecourse (1.1 miles)
Thatcham (3.8 miles)