Portfolio of fully self contained flats4sale, part x, swap.

£625,000
Posted by Binoss on 05/02/2018
Price £625,000
Postcode See on google map
Type of ad Individual Offer
Type of property Flat/Apartment
# of bedrooms 1
Description
Are you interested in a complete lifestyle change, escaping the rat race by running a portfolio of properties that currently has a net annual profit of in excess of £60000 per annum.

I offer this easy to run portfolio of 25 flats, situated conveniently on the same site in a popular residential area near the Northern General Hospital in Sheffield.

The fully self contained flats are situated on the first floor and comprise of 21 studios, 3 x 1 bed flats and 1 x 2 bed flats that have all been refurbished within the last 5 years.

The ground floor shops are not part of the sale .

I am open to various suggestions to suit your personal circumstances that would include a straight cash sale, part exchange with cash either way or a straight swap (I would consider both residential and business , preferably in the UK )

The transfer of the portfolios interest would be a simple case of re-assigning the existing leasehold interest meaning that all the respective solicitors would need to do is to alter the lessees name on the existing lease. The existing lease is a simple and easy to understand repair and insure ongoing renewable lease on fixed terms.

The property is currently and periodically fully let, on assured short hold tenancies and I currently choose to let the flats fully furnished on an inclusive of all bills basis as this works for me however there is scope to alter this arrangement should the purchaser desire.

Summary of the income and expenditure for this business:

Income £138367

Lease/freehold rent £41086 (Including building insurance)

Gas/electric/water £19500

Council tax £7080

Contents insurance £2059

Internet £2878

Other £2150

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Total outgoings. £74753

Net profit £63614

This is an excellent opportunity to earn a very good income for just a few hours work per month and would be ideal for someone wanting to semi-retire.

Price: £625,000

Looking to swap for: Please note that I am only interested in a straight sale, part exchange or property swap preferable in the UK . I will not be interested in any other proposals.

I will happily help the new owner run the portfolio during an initial transitional period as required. Serious enquiries only please and I will gladly answer any questions and queries that you may have.

Price £625000

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