Latest Valuation
£3,329,400
ROCE
%
Selling Agent
Sourced North Surrey

5.5% Gross Yield – Freehold Block of 12 Flats in West Sussex

Untenanted block of 12 flats, recently finished to exceptional standard.
Guide Price
£3,000,000

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Key Features

  • 5.5% gross yield
  • Offers long-term investment opportunity
  • Fully finished to an exceptional standard
  • Extremely spacious
  • Fully fitted kitchens

The Property

This property is proudly presented by Sourced and it offers a long term investment opportunity and a gross yield of 5.5%.

The property comprises 12 large 1 and 2 bedroom flats and a superb penthouse.

These luxury flats are extremely spacious, and finished to an exceptional standard including fully fitted kitchens.

Integrated washer/dryer, dishwasher, fridge/freezer, oven and microwave.

Fully tiled bathrooms and en-suites, with pressurised hot water.

Fully carpeted or engineered oak floors.

Planning Information

N/A

The Plan

The property offers a long-term investment opportunity and a number of potential options including holding and renting, selling the flats on the open market and retaining a freehold interest.

Possibly operating as serviced accommodation.

Based on nearby comparable's, the 12 flats are valued at £3.3m and could achieve a combined annual rent of £166,360 resulting in a gross yield of 5-6%, once a discounted purchase price is factored in.

The Location

The property is just a short walk from the historic town of East Grinstead.

The town has much to offer with a wide range of local stores, pubs, restaurants and supermarkets, and a mainline station to London Bridge/Victoria.

Gatwick Airport is also just about 20 minutes away.

The towns of Crawley, Reigate and Tunbridge Wells, are also within easy reach, providing further retail and leisure facilities.

Main Line station and the busy London Road shopping area.

Average estimated value for a house in RH19 3BE

£410,900

Properties in East Grinstead had an overall average price of £410,900 over the last year.

The majority of sales in East Grinstead during the last year were detached properties, selling for an average price of £588,890.

Flats sold for an average of £227,703, with terraced properties fetching £332,433.

Overall, sold prices in East Grinstead over the last year were 8% up on the previous year and 5% up on the 2017 peak of £392,966.