2 bed Flat For Sale £149,500
Eazy Property is proud to present this recently converted development of 48 apartments consisting of 18 2-bed apartments located in the town of Washington in historic County Durham, west of Sunderland.
This is the 3rd assisted living development from the same developer which was launched in December last year the previous ones being the Viewpoint in Leeds and Henblas Square in Wrexham.
All 48 units are tenanted units, with a 25-year rental via Yale the CBS (Community Benefit Society) who are registered with the FCA.
Investment Overview:
2 Bed - £149,500 cash investment
9.27% - 9.72% Net Rental Assurance
Potential buyback option within 3 years with (Minimum 30% uplift)
No Landlord costs for Ground Rent, Service Charge, Building Insurance, Management Charge
Each buyer has the ownership title of their apartment for 125 years. There are no costs for the 25-year sub-lease to Yale they cover all costs. All expenses such as ground rent, service charges, management fees etc are paid by Yale Housing Association.
Two-bedroom units at £149,500 which are let at £1,211 per month generate an assured net rental yield of 9.72%. The rent is linked with the Consumer Price Index (linked to inflation) with annual upward reviews and cannot go down.
This is a cash deal and we expect to sell these quickly. An initial £5,000 reservation fee secures any unit, this is deducted from the price of the unit on your purchase contract.
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