I have a vendor who is looking to dispose of 5 tenanted flats as a job lot. It in an investor with a sizeable portfolio who is simply 'tidying up loose ends' - nice work if you can get it!
All flats have over 100 years on the lease. All are in the same area (Southbridge) which is very close to the town centre and one of Northampton's rental hotspots - no problems with finding tenants here. These are modern units (10 years old?) that will rent privately to decent tenants.
You can see from the table above what the market values are. I'm happy that these are pretty much accurate - if the vendor sells individually and sticks it out, he should get this for the properties.
I also understand that if someone was prepared to buy all 5 as a job lot there is a deal to be done, and a figure of around £420,000 may be considered. Clearly this would need to be someone who could move quickly.
2 bed
|
£585.00
|
£104,995.00
| |
2 bed
|
£575.00
|
£104,995.00
| |
2 bed
|
£585.00
|
£104,995.00
| |
2 bed
|
£595.00
|
£104,995.00
| |
1 bed
|
£450.00
|
£79,990.00
| |
TOTAL
|
£2,790.00
|
£499,970.00
|
All flats have over 100 years on the lease. All are in the same area (Southbridge) which is very close to the town centre and one of Northampton's rental hotspots - no problems with finding tenants here. These are modern units (10 years old?) that will rent privately to decent tenants.
You can see from the table above what the market values are. I'm happy that these are pretty much accurate - if the vendor sells individually and sticks it out, he should get this for the properties.
I also understand that if someone was prepared to buy all 5 as a job lot there is a deal to be done, and a figure of around £420,000 may be considered. Clearly this would need to be someone who could move quickly.
