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103 bedroom block of apartments for sale

Richmond Square, Richmond Road, Cathays

Guide Price £8,500,000

Property Description

Key features

  • 77 flats providing a total of 103 bedrooms
  • 660,000 gross income for the 2016-2017 academic year
  • Close to Cardiff University and the City Centre
  • Professional Management in Place
  • Potential for break up sales
  • EPC: Majority C

Full description

A superb opportunity to acquire a professionally managed purpose built quality development designed for the rental market but with potential for open market sales. The scheme comprises three elements, Richmond Square, Richmond Apartments and 109 Richmond Road and totals 77 flats with 103 double bed rooms generating a gross annual income of £660,000 for the 2016-2017 academic year.
Located in the heart of Cardiff's most popular student location approximately 1.60km (1 mile) from Cardiff City Centre and is within 0.8km (0.5 mile) of many of the University Faculty Blocks. The development is also a very popular attraction for professional occupiers due to being conveniently situated close to a variety of local shops restaurants and other leisure outlets within the vicinity. Viewings are strictly by appointment.

Richmond Square - This is the principal part of the development being offered for sale. It was completed in 2010 and provides 65 units and a total of 70 double bed rooms. The scheme was designed to compliment the period Richmond Road street scene with a central courtyard and garden. There are 17 types of apartment arranged as follows.

Block 1
12x 1 bed flats, Flats 1-12

Block 2
4x 1 bed flats and 2x 2 bed Duplex, Flats 13-18

Block 3
4x 1 bed flats and 2x 2 bed Duplex, Flats 19-24

Block 4
14 x 1 beds and 1x 2 bed Duplex, Flats 25-39

Block 5
13x open plan 1 beds, 9x open plan Duplex and
4x 1 beds, Flats 40-65

Richmond Apartments - This is a purpose built detached 3 storey block to the south of Richmond Square constructed in 2002 and refurbished in the last 2/3 years. It is laid out as 6 x 4 bedroom apartments and 2 x 2 bedroom apartments providing 28 double bedrooms in total. There is planning consent for the provision of dormer windows which will enhance the layout of the top floor apartments.

109 Richmond Road - Adjoining the Richmond Square block to the north, this property comprises a new build end of terrace house incorporated into the main scheme but with potential for separation. This property provides 3 x 1 bedroom flats and 1 no 2 bedroom flat. ( 5 Double bedrooms in total) Access is from Richmond Road with 35 car parking spaces including 2 disabled spaces all within in the central courtyard. A real lane provides access to 16 space integral garage with a further 3 spaces to the rear of 109 Richmond Road. A managers office and store room is incorporated into the Richmond Square block.

Epc - Richmond Square: The majority of units are rated Category C.
109 Richmond Road: Two apartments are rated Category C, two apartments Category D.
Richmond Apartments: Category C.

Services - Mains gas, water and electricity are connected. There are gas fired boilers in Richmond Apartments, underfloor heating in Richmond Square and 109 Richmond Road.
We are advised that a fibre optic 1GB service is currently being installed.

Viewings - Viewings are strictly by appointment and all other enquiries regarding further information should be directed to sales@keylet.co.uk or 02920 489000 (option 1).

Tenure - Freehold

Personal Interest - **agents note: In accordance with the Estate Agents Act 1979, we are obliged to inform all interested parties that some of the directors of the company selling the development are members of Keylet**

Cprs - The Consumer Protection from Unfair Trading Regulations 2008 & Consumer Protection (Amendment) Regulations 2014: Keylet Sales have not tested any, equipment, fixtures, fittings or services and so cannot verify that they are in working order or fit for the purpose. These particulars are intended to give a fair and overall description for the guidance of intending purchasers and do not constitute an offer or part of a contract. All descriptions, references to condition, necessary permissions for use and occupation and other details are given in good faith and are believed to be correct. Intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or seek their own professional advice. All measurements are approximate.


More information from this agent

Listing History

Added on Rightmove:
06 June 2016

Nearest stations

  • Cathays (0.3 mi)
  • Cardiff Queen Street (0.5 mi)
  • Cardiff Central (1.0 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

Keylet, Cardiff

117-120 Bute Street, Cardiff, CF10 5AE

029 2243 0458 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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Nearest stations

  • Cathays (0.3 mi)
  • Cardiff Queen Street (0.5 mi)
  • Cardiff Central (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Keylet, Cardiff

117-120 Bute Street, Cardiff, CF10 5AE

029 2243 0458 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26309691. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Keylet, Cardiff. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.