Peterborough Portfolio, Peterborough

A rare opportunity to acquire this modern, freehold apartment portfolio, comprising 73 x two bedroom apartments in the heart of Peterborough. 

DESCRIPTION

The Portfolio comprises an exciting opportunity to acquire 73 modern two bedroom apartments, across three ideally located developments in the heart of the city of Peterborough. The assets provide an excellent proven track record and currently income produce an annual rent in the region of £716,250. Our client is seeking offers in excess of £8,565,000 for the freehold interest, subject to existing tenancies and subject to contract. They will also consider proposals on a site by site basis.

Location

The Portfolio is situated across three ideally located sites close to Peterborough city centre. Named on of the UK's fastest growing cities, Peterborough provides all the facilities you would expect from a rapidly growing city. In Peterborough, the population size has increased by 17.5%, from 183,000 in 2011 to 215,700 in 2021, compared to a national average of only 6.6%.Peterborough railway station is a principle stop on the East Coast Main Line and provides fast and direct travel to London for those needing to travel for work.

HORRELL COURT, PE3 8DG

HORRELL COURT is an excellent development in Bretton, very close to Bretton shopping Park consisting of Sainsburys, Boots and Costa among others. The opportunity comprises 26 two bedroom apartments across three unbroken freehold blocks. The 26 apartments come with a strong parking allocation of 52 spaces and currently producing an annual rent of £268,284.

RATHBONE CRESCENT PE3 6DE

RATHBONE CRESCENT is a fantastic scheme situated close to the city centre and adjacent to the Peterborough Railway Station. It comprises 22 two bedroom apartments across four freehold blocks. There is a total of 24 apartments across the four blocks, however our client will need to retain two units which are designated as accessible specification units. The 22 apartments come with 22 on site allocated spaces and currently producing an annual rent of £211,524.

FREDERICK DRIVE, PE4 6BL

FREDERICK DRIVE is a well positioned residential development situated off Lincoln Road, which is the main route into the city centre of Peterborough from the north.It comprises 25 two bedroom apartments across Three freehold blocks. There is a total of 27 apartments across the three blocks, however our client will need to retain two units on a long leasehold basis, which are currently designated as accessible specification units. The 25 apartments come with 27 on site allocated spaces and currently producing an annual rent of £236,448.

FURTHER INFORMATION

Further information is available on request including; Rent Schedule, Floor plans, Site plans and general compliance information.

Internal Condition

We have not inspected all of the units. Those that were inspected were in good condition, comprising modern fixtures and fittings. We understand all properties are generally held in similar condition, with modern fitted kitchens and bathrooms.

VIEWINGS

Viewings are strictly via the sole agents; Pygott & Crone Jamie Thorpe Jthorpe@pygott-crone.com