This is a unique opportunity to purchase 6 one bedroom apartments currently offering a yield of approximately 5.5% with potential for 6%. Each apartment is let and managed on an assured shorthold tenancies.
- Tenanted one bedroom apartments
- 5.5% yield with potential for higher
- Excellent potential for future capital growth
- Desirable location for tenants
- Superior specification
- Outside car parking space per apartment
Built on the footprint of the old Foster Brothers Oil and Cake Mill, the modern Provender building has been sympathetically designed to blend seamlessly into its historic surroundings, with many iconic features of the original mill retained.
Provender is superbly located within Gloucester Quays. In the immediate vicinity is a Beefeater, Costa Coffee, Premier Inn and soon to be a creperie. Gloucester Quays Lifestyle Outlet is just a couple of minutes walk which offers a broad range of quality shops including Marks & Spencer, Barbour, Joules and Hugo Boss. The Cineworld cinema and a range of eateries including Cote, Bills, TGI Fridays and Five Guys are also within the Gloucester Quays estate.
Outside the boundaries of the Quays, Gloucester Cathedral and Gloucester Rugby's Kingsholm stadium are just two of the local attractions within easy reach. Surrounding countryside includes the nearby Cotswolds, Malvern Hills and the Wye Valley, all areas of outstanding natural beauty.
This is a unique opportunity to purchase 6 one bedroom apartments currently let and managed on assured shorthold tenancies with an annual income of £52,200 providing a yield of approximately 5.5% with potential for 6%.
The apartments at Provender are finished to an exceptional standard. Kitchens incorporate a Bosch electric oven, microwave and ceramic hob; there is also be a built-in dishwasher, washing machine, fridge/freezer and contemporary under-counter sink. Bathrooms will have elegant Villeroy & Boch fittings.
The apartments will be provided on a 200 year lease with a ground rent that increases every five years by RPI.
BLP 10 Year Warranty
Each apartment comes complete with a 10 year warranty underwritten by Allianz against structural defects and includes a 6 month after-sales courtesy visit.
Lounge (6.37m x 3.58m)
Bedroom (3.17m x 2.90m)
42.2sqm (452.2 sq ft)
Individual apartment specifications may vary.