House For Sale £1,250,000
By sale via the Modern Method of Auction : As from December 2022, the on line Auction will end on Friday 20th January 2023.
A rare and very attractive investment opportunity, featuring well maintained 14 rental properties with a long standing, track record of success. Already offering an attractive yield with no systematic rental reviews having taken place.
Conveniently located and within easy walking distance of all local amenities this particular lot comprises of 14, two and three bedroomed properties. Together, they comprise Foresters Terrace located centrally within the village of Ruabon, within the County of Wrexham. These properties were built in 1896 by a single developer and were purchased by the current owners in 1998. During this period of ownership they have diligently undertaken a programme of works that have been aimed at continually improving, updating both the standard and quality of the accommodation. Since 1998 these works have included :
Eight of the properties have benefitted from back to brick renovations since purchase with some major and significant improvements in others. One tenancy is pre 88 tenancy and occupied since 1971
Fire breaks have constructed in all lofts
All bar two properties have got gas combi boilers
The entire terrace over the period of the current ownership has been fitted with new facias, gutters front doors and windows.
This is not meant to be an exhaustive list but rather to convey the manner in which these properties have been maintained and cared for.
At the point of writing this description two dwellings have just completed a comprehensive back to brick refurbishment programme. These vacant units currently remain empty and should this be the case at point of sale it could provide a prospective complete flexibility in either deciding to sell or re-rent the units.
These properties have provided a regular and a consistent source of rental income with many tenants being long standing. Equally, it is fair and accurate to state that all the rent levels currently being paid are significantly below what other similar rental properties are achieving locally.
Currently achieving 7.29% gross yield, we conservatively project based on current local rental comparables, that a gross of yield of 8.51% is comfortably attained.
A detailed breakdown of all rental values of the 14 dwellings will be available to anyone who registers for the sale. Viewings of the properties can be arranged by contacting Belvoir EPC rating: D. Council tax band: X, Tenure: Freehold
Auctioneers Notes
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 3.60% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Disclaimer
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only. These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but most satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.
A rare and very attractive investment opportunity, featuring well maintained 14 rental properties with a long standing, track record of success. Already offering an attractive yield with no systematic rental reviews having taken place.
Conveniently located and within easy walking distance of all local amenities this particular lot comprises of 14, two and three bedroomed properties. Together, they comprise Foresters Terrace located centrally within the village of Ruabon, within the County of Wrexham. These properties were built in 1896 by a single developer and were purchased by the current owners in 1998. During this period of ownership they have diligently undertaken a programme of works that have been aimed at continually improving, updating both the standard and quality of the accommodation. Since 1998 these works have included :
Eight of the properties have benefitted from back to brick renovations since purchase with some major and significant improvements in others. One tenancy is pre 88 tenancy and occupied since 1971
Fire breaks have constructed in all lofts
All bar two properties have got gas combi boilers
The entire terrace over the period of the current ownership has been fitted with new facias, gutters front doors and windows.
This is not meant to be an exhaustive list but rather to convey the manner in which these properties have been maintained and cared for.
At the point of writing this description two dwellings have just completed a comprehensive back to brick refurbishment programme. These vacant units currently remain empty and should this be the case at point of sale it could provide a prospective complete flexibility in either deciding to sell or re-rent the units.
These properties have provided a regular and a consistent source of rental income with many tenants being long standing. Equally, it is fair and accurate to state that all the rent levels currently being paid are significantly below what other similar rental properties are achieving locally.
Currently achieving 7.29% gross yield, we conservatively project based on current local rental comparables, that a gross of yield of 8.51% is comfortably attained.
A detailed breakdown of all rental values of the 14 dwellings will be available to anyone who registers for the sale. Viewings of the properties can be arranged by contacting Belvoir EPC rating: D. Council tax band: X, Tenure: Freehold
Auctioneers Notes
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 3.60% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Disclaimer
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only. These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but most satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.
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