Latest Valuation
£250,000
ROCE
29%
Selling Agent
Sourced Chester

29% ROCE – Converted Holiday Let Opportunity

This cash-generating investment has been decorated to the highest standard
Guide Price
£240,000

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Key Features

  • Welsh chapel conversion
  • City centre location
  • 650 yards from Chester racecourse
  • 2 bedroom luxury apartment
  • ROI: 17.22%
  • ROCE: 29%

The Property

Sourced are excited to present this stunning converted property, which can be used as an excellent holiday let with an ROI of 17.22%.

There is a secure entrance into the converted chapel, which takes you through an internal door up to the first floor.

Originally built in 1866, chapel place has a dramatic and distinctive gothic style.

It retains many of its original features and intricate architectural details, whilst its rich history and heritage has inspired the extravagant and cutting-edge renovation.

This apartment has been decorated to the highest standard and comprises of two bedrooms, a lounge and stairs down to a fully equipped kitchen.

The property includes a living room with a flat-screen TV. The kitchen has a dishwasher, an oven and a microwave, as well as kettle.

Planning Information

N/A

The Plan

Sourced Chester is excited to bring this unique property to the market.

This holiday let has benefited from exceptional reviews on both booking.com and Airbnb with an occupancy rate of 75-80%.

Unlike most apartments in Chester city centre, this 2 bedroom apartment has a short stay let agreement agreed in the property management contract.

Purchase price - £240,000
Estimated monthly rent - £2,179
Annual gross income - £26,150 (rolling 12 months)
Gross yield - 10.89%
Deposit (25%) - £58,750
Stamp duty (if required) - £7,050
Purchasing costs - £2,000
Management fee - £1,600
Ground rent - £250

Total money in - £69,650

Mortgage payment (2.2%) - £581.50

Annual net profit - £12,000

ROI - 17.22%

Online travel agent stats - 2019/20

Booking.com - £13,151.66
Airbnb - £10,286.51
Homeaway - £1,628.90
Tripadvisor - £368.60

Total - £25,435.67

The Location

City centre location, ideal for tourists looking for city breaks, shopping trips, weddings but especially Chester races.

There is no shortage of things to do in Chester with its rich history dating back 2000 years.

There is an abundance of historical and cultural delights which include the famous walls, rows, cathedral, amphitheatre and the oldest racecourse in Britain.

Chester is an all year round city.

During the summer months, the Roman Gardens and Grosvenor Park host open air theatre shows and cinema nights.

In winter months, the city lights up and hosts Christmas markets and literature festivals.

Brand new to Chester is Storyhouse, incorporating a state of the art library, theatre, cinema and arts centre.

Located 0.6 miles from Chester Racecourse, Luxury Chapel Apartment within City Walls.

Chester Train Station is 0.6 miles from Luxury Chapel Apartment within City Walls, and Chester Zoo is 3.1 miles away.

Average estimated value for a house in CH1 1SH

£263,573

The average house price in Volunteer Street, Chester CH1 is £263,573.