Priestgate, Peterborough, PE1

Symonds & Greenaway are delighted to present For Sale this rare and exciting investment opportunity, ideally positioned on Priestgate, Peterborough, PE1.

This impressive freehold property comprises eight high-specification, one-bedroom self-contained flats, together with parking for four vehicles. Offering an established income stream, a central location and a fully renovated residential block, this represents an excellent opportunity for investors seeking a secure and immediately income-producing addition to their portfolio.

The property was comprehensively renovated and converted into eight individual flats in 2020, with the works completed to a high standard and specification throughout. The development benefits from a 10-year warranty on the works carried out, providing additional reassurance and peace of mind for prospective purchasers.

Each flat has been thoughtfully designed to provide attractive and practical accommodation, appealing to the strong rental market within Peterborough City Centre. The block is currently fully tenanted, allowing an incoming purchaser to benefit from immediate rental income from completion, without the need to undertake refurbishment, conversion or initial tenant sourcing.

The property currently generates an average gross rental income of approximately £74,820 per annum, making this an attractive opportunity for investors seeking an established and proven income-producing asset. The combination of eight individual units, existing tenancies and freehold ownership offers the potential for both immediate returns and long-term investment growth.

Priestgate is superbly positioned within the centre of Peterborough, placing residents within easy reach of an extensive range of local amenities. The city centre offers a variety of retail destinations, restaurants, cafés, bars and leisure facilities, together with access to key employment and business districts. Peterborough Railway Station is also conveniently accessible from the property, providing excellent transport connections and fast, direct services to London King's Cross.

Offered for sale with no forward chain, this is a rare opportunity to acquire a substantial, income-producing freehold residential investment in a highly convenient central location. With eight established one-bedroom flats, a strong existing rental income, high-quality renovation works and immediate occupancy across the block, the property is well suited to both experienced and first-time portfolio investors.

Current Monthly Rent Schedule:

• Flat 1 – £750 per calendar month

• Flat 2 – £725 per calendar month

• Flat 3 – £775 per calendar month

• Flat 4 – £685 per calendar month

• Flat 5 – £825 per calendar month

• Flat 6 – £825 per calendar month

• Flat 7 – £825 per calendar month

• Flat 8 – £825 per calendar month

The property is being sold with the freehold and the benefit of the existing tenancy arrangements. Viewings are highly recommended to fully appreciate the quality, location and investment potential on offer. For further information, details regarding the current tenancy arrangements or to arrange a viewing, please contact the Symonds & Greenaway Sales Team.

Disclaimer:

These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact but must satisfy themselves by inspection or otherwise as to their accuracy. Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore, if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Photographs are reproduced general information and it must not be inferred that any item within the photographs are included for sale with the property. Some images may have been digitally enhanced or virtually staged for marketing purposes. Interested parties are strongly advised to view the property in person before making any offer or commitment