Freehold Investment - Six Purpose-Built Apartments

Key features

Rare opportunity to acquire a residential freehold investment
Six well-appointed two-bedroom apartments
Each apartment features a spacious living/dining area, open-plan kitchen, two bedrooms and a bathroom
Offered for sale subject to existing tenancy agreements
Attractive rental growth potential, with the apartments currently let at below-market rental levels, offering scope to increase income over time
Situated in a sought-after residential location within a peaceful and private cul-de-sac
Conveniently located within easy reach of the town centre, Peel Castle, promenade and beach
Within walking distance of local shops, a public house, schools, gym and swimming pool
Dedicated parking spaces allocated to each apartment
Both ground-floor apartments benefit from their own generously sized designated gardens

Floor Plans

View the full layout and room dimensions for this property.

Summary

Rarely available on the market, this freehold residential investment comprises six well-appointed two-bedroom apartments, ideally situated within a sought-after residential area in a quiet and private cul-de-sac.

The property comprises six well-proportioned apartments, each offering comfortable and practical accommodation with a spacious living/dining room, open-plan kitchen, two bedrooms and a bathroom. The apartments provide attractive and versatile residential accommodation, making them well suited to the local rental market.

Each apartment benefits from designated parking, while the two ground-floor apartments enjoy the additional benefit of large designated gardens, providing valuable private outdoor space and further enhancing their appeal to prospective tenants.

All six apartments are currently let under existing tenancy agreements, providing the incoming purchaser with an established rental income from completion. The current rent is £925.00 per calendar month per apartment, providing a combined rental income of £5,550 per calendar month, equivalent to £66,600 per annum.

There is also scope for future rental growth, with properties of a similar type and nature understood to achieve rental levels in the region of £1,100 to £1,200 per calendar month per apartment. If achieved across all six apartments, this would represent potential gross rental income of approximately £79,200 to £86,400 per annum, subject to market conditions, tenancy agreements and achievable rental values at the relevant time.

The location is particularly convenient, with the town centre, Peel Castle, promenade and beach all within easy reach. A range of everyday amenities, including local shops, a public house, schools, gym and swimming pool, are also within walking distance.

The combination of six individual rental units, freehold ownership, established tenancies, dedicated parking and garden provision to the ground-floor apartments makes this an attractive opportunity for an investor seeking an established residential income stream with potential to enhance rental returns over time.