Latest Valuation
£220,000
Yield
10%
Selling Agent
Sourced Preston

Mixed Use Property Portfolio In Preston – 10% Yield

A fantastic opportunity to acquire an instant cash-flowing property
Guide Price
£210,000

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Key Features

  • Purchase Price £210,000
  • ROCE 15%
  • £870 pcm Cashflow
  • 10% Yield
  • Sourcing Fee £4,000

The Property

A fantastic opportunity to acquire an instant cash-flowing property. This fully tenanted, mixed use unit is available direct to vendor producing a very healthy annual rent of £20,600 and a net monthly cash flow of £870. The property also benefits from a plot of land at the rear, which could be developed to include a further 2 flats to generate additional income.

The property comprises 2 traditional terraced properties that have been combined on the ground floor to create an attractive commercial unit producing an income of £11,000 per annum, which is on a FRI lease with 14 years remaining to a National chain of betting shops and has recently been refurbished.

The first floor has been remodelled to create two well proportioned flats, fitted out to a high standard - each generating an income of £400 pcm. Each flats is approximately 45m2, comprising living room, bedroom, a modern fitted bathroom and kitchen. The property is all electric, with each flat having separate meters.

The Financials:
Latest valuation: £220,000
Purchase price: £210,000
Yield: 10%
ROCE: 15%
Cashflow: £870 pcm
Sourcing fee: £4,000

Planning Information

N/A

The Plan

This fully tenanted, mixed use unit is available direct to vendor producing a very healthy annual rent of £20,600 and a net monthly cash flow of £870.

The property comprises 2 traditional terraced properties that have been combined on the ground floor to create an attractive commercial unit producing an income of £11,000 per annum.

The the first floor has been remodelled to create two well proportioned flats, fitted out to a high standard - each generating an income of £400 pcm.

The Location

The property is situated in Preston close to local shops and amenities and within 1/2 mile of large business park and 1 mile of M6 motorway.

Average estimated value for a house in PR2

£145,190

Average house price in postcode location is £145,190.
Average price for flats in PR2 postcode have risen by 13% in last 5 years.

https://www.zoopla.co.uk/house-prices/ribbleton/longridge-road/pr2-6re/?q=pr2%206re&search_source=house-prices