Residential Development for saleFairfield Street, Manchester
Withdrawn from Market
- Residential armchair investment
- Investment portfolio of 5 assests
- Mainly located in the North West
- Portfolio offered at 20% BMV
- Business Gratis provides an additional 8% Yeild
- Fully tenanted
- Triple AAA rated operators in place
- 5 Large Residential Detached Properties
The following investment portfolio is both quite rare and unusual in format for an investment vehicle. The portfolio is brought to the market by way of the current vendor, who after years of benefiting from these strong assets, has decided to retire.In being and fortunately understanding in business, the vendor has elected to offer this excellent investment portfolio not only as a trading business, to allow the incoming buyer to hit the ground running with immediate income, but are also offering the portfolio at 20% BMV thus allowing the incoming buyer to bank early equity in assets.In regards to the asking price, our client took advise from several local agents on all the independent properties and took a mean average value, he then totalled these values and took a mean value from the group total, arriving at a rounded figure of £2.5m, that is under the whole residential MV. Furthermore he took the indicative decision not add value, by adding a value for the business accruement, that our client has established and built on over the years, therefore he is offering the business gratis to the incoming buyer.We believe this represents a favourable gesture by our client for these five large detached residential dwellings which are located in rural areas and are sited on mature large plots. Part of the attraction of this portfolio is the aforementioned BMV that will generate further Capital Growth over the years these are retained. The second attraction is the business element that is generating a handsome income, with Triple AAA operators who are currently running these assets as homes for vulnerable teenagers.All five properties are fully tenanted and in truth always are fully tenanted simply due to the nature of the services provided. Our client has just recently renewed all five contracts, therefore the incoming buyer will benefit from the comfort of the five year, fully repairable leases that have built in rent reviews in line with inflation. We can advise that our clients have experienced no issues with the operators, whilst being custodians of these assets; in fact they have an excellent relationship with them. Moreover they advise that on the expiry of the current leases, these will be renewed by the operators due to the desperate need for this kind of accommodation.To quantify what is on sale - five large residential detached properties, sited on large plots in rural locations, offering 20% BMV with Capital Growth potential, along with a business element of being run by a Triple AAA operator, having just signed new five year fully repairable leases, on all five properties, culminating in an 8% Net Yield with certainty of renewing in the future, this is offered gratis.Although it may not be considered an exceptionally high Net Yield, we can advise that this is a true arm chair investment, as our client confirms that on a yearly basis they have no need to visit the properties and the operators are excellent partners to work with whom our clients are able to trust impeccably to look after their assets.Furthermore they confirm that they have benefited from a year on year Capital Growth on the assets, whilst of course received a reasonable income from the business attribute to the portfolio, whilst the portfolio has been in their tenure.
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