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Real estate

Other Real Estate Businesses ; Property Management ; Residential Properties

this is a good opportunity to aquire a well established property investment portfolio, the majority of which are located in the humberside area with two properties situated in west yorkshire. The 56 properties are all in good order with circa 80% new build and the other circa 20% having been refurbished to a high standard. There are two limited company’s plus family owned properties which make up the portfolio of the 56 also manage 5 other properties which bring in a regular rental income. There is a healthy mix of 2/3/4 bedroom flats, terraced houses, semi-detached and bungalows which offer a wide choice to prospective tennants. The majority of the properties are regularly occupied with circa 20% used as rentals for contractors who work at the local docks and oil terminal. These contractor properties bring in a higher yield than normal long term rentals. The portfolio of properties is valued at circa £6,033,000 with outstanding mortgages of circa £2,936,000, all of which are on attractive low percentage repayment terms. Key strengths and opportunities all of the properties are in good order with a high standard of fixtures and fittings. There is no significant expenditure required to continue the letting operation. They are in good locations and are continually occupied bringing in a reliable income stream to new prospective owners. All lettings are handled by a local estate agent who looks after all of the contracts and financial matters. There is also an option if required to aquire the agency which is also owned by the vendors of the property portfolio.

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