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Residential Development for sale

Upper Bond Street, Hinckley, Leicestershire


Property Description

Key features

  • Excellent residential investment opportunity
  • Comprises ten modern flats with car parking
  • Fronts onto Upper Bond Street, Hinckley with rear frontage on to Druid Street
  • Offers six 2 bedroom and four 1 bedroom flats

Full description

An excellent residential investment opportunity to purchase Neale's Court in central Hinckley which comprises ten modern flats with gated car parking, fronting onto Upper Bond Street, Hinckley with rear roadway access on to Druid Street. The development offers ten flats in total - six 2 bedroom and four 1 bedroom.

Description - The development is constructed with six flats fronting on to Upper Bond Street, while the remaining four front on to Druid Street. The development benefits from a central courtyard and car parking with access from Druid Street, with gate controlled access. Flats are only permitted for occupation of persons aged 55 and over.

All flats are UPVC double glazed and benefit from electric heating. The accommodation offered by each flat is as follows: Hall, Lounge, Kitchen, Shower Room and either one or two Bedrooms, dependent on the layout.

Tenure - We are able to offer the freehold interest in the property. All the flats are currently let on assured shorthold tenancies at rentals ranging from £350 pcm for a single bedroom flat up to £410 pcm for a two bedroom flat. The current gross rental is £3820 per calendar month.

Price - Offers in the order of £850,000 are sought for the benefit of the freehold interest. At the current level of rentals this would attain a 5.4% gross yield.

Directional Note - The properties fronting on to Upper Bond Street are known as 125 a, b, c, d, e and f, (LE10 1RH) whilst the properties fronting on to Druid Street are 62, 62a, 64 and 64a. (LE10 1QH)

Directions - Upper Bond Street & Druid Street are situated close to the town centre. Leaving Hinckley along Station Road, take a right turn onto Lancaster Road, left at the bottom with the new Sainsburys on your left, and take the right traffic light filter to the traffic lights opposite the old Hinckley Leisure Centre. Continue through the lights with the Leisure Centre on your left onto Mansion Street, continue along onto Lower Bond Street, through the next set of lights onto Upper Bond Street, then right onto Well Lane, and left at the T-junction onto Druid Street. The apartments and car park are on the left hand side. For SATNAV users the property postcode is LE10 1RH.

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