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Yorkshire Portfolio

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Yorkshire Portfolio Residential Investment Opportunity By order of Receivers 40 & 42 Bennetthorpe 77 Broxholme Lane 25 Broxholme Lane 59 Broxholme Lane Yorkshire Portfolio High yielding portfolio of predominantly residential properties located in Yorkshire INVESTMENT CONSIDERATIONS • The portfolio comprises the following: • 14 x buildings arranged as 54 self- contained flats • 15 x traditional houses • 4 x Houses of Multiple Occupation • 2 x commercial units (one with four flats above) • Primarily located within central Doncaster • Total Current Rent Reserved: £324,629 pa • Gross Yield: 10.8% (based on contracted rent) • Gross Yield: 14% (based on ERV) • Break up opportunity • Seeking offers in excess of £3,000,000 LOCATION The majority of the portfolio is located in Doncaster, whilst there are two properties in Hull and one in Retford. Doncaster, a large market town in South Yorkshire, has a population of approximately 110,000. Located between the A1(M) and M18 Motorways, Doncaster is approximately 35 km (22 miles) to the north east of Sheffield and 48 km (30 miles) to the south east of Leeds. Hull Doncaster has good transport links, being within close reach of both the A1(M) and M18 Motorways and Robin Hood (Doncaster/ Sheffield) Airport. The Train Station in Doncaster is positioned on the East Coast Main Line, which provides very good direct links to London with journey times of less than 1 hour 45 minutes. There are Doncaster also regular direct trains to Newcastle, to the north, with journey times of 1 hour 30 minutes. The average property price in the town is £145,161, according to Rightmove, which has remained relatively consistent since 2015. Retford Retford, where one property is located, is situated alongside the A1 Motorway, to the south of Doncaster. The train station in Retford is also on the East Coast Main Line providing hourly services to London with journey times of 1 hour 40 minutes. There are two properties located in Hull, to the north east of Doncaster. Both properties are to the west of the city, in reach of the main A63 road which provides links to the city from the M62 Motorway. DESCRIPTION RENT RESERVED / TENANCIES We have provided a brief description of each individual property alongside a photo showing its The current total contracted rent for the subject portfolio is £324,629 per annum. We are of the front elevation in a property brochure downloadable from the data-room. opinion that, fully let, the portfolio has an Estimated Rental Value (ERV) of approximately £420,000. In the main, the portfolio comprises a mix of traditionally constructed terraced houses; 14 of which We understand the majority of residential properties within the portfolio are let subject to Assured provide traditional family homes and 13 that have been converted to provide 44 self-contained Shorthold Tenancies (ASTs). The HMO’s are let on Shared Housing Agreements (SHAs). Sample flats. agreements are available to view/ download from the data room. Four properties provide House in Multiple Occupation (HMO) accommodation, with 27 rooms in A number of properties within the portfolio are currently let to Live Estates Limited on a commercial total. contract. We understand Live Estates Limited has a sub-contract from G4S who operate for the Home Office providing housing for Asylum Seekers. All Live Estates contracts are due to expire 1st The portfolio also comprises one detached block comprising 10 self-contained flats and two September 2019. Where whole properties are let to Live Estates the individual rooms within the properties currently being operated as commercial units; one of which provides 4 self-contained property are occupied by the individual occupants under a licence to occupy and they therefore flats above. have no occupancy rights. You should assume properties are in a tenantable condition internally and are let on an unfurnished The commercial and Live Estate leases are available to view/ download from the data room. basis. Some properties would benefit from modernisation in parts but generally the properties are in good and tenantable order. It is important to note the portfolio is being sold on behalf of Receivers and therefore the provision of information will be limited. TENURE To our knowledge the portfolio comprises all freehold properties. Line by line information is provided in the tenancy schedule which is downloadable from the data room. St Christophers Flats 49 Cemetary Road OPPORTUNITY The Yorkshire portfolio comprises a mix of properties located in areas with high rental demand. On behalf of our client, we are offering the opportunity to acquire a fully operational income producing portfolio of traditional brick built properties. The portfolio provides a high yield on initial acquisition with asset management opportunities providing the potential to generate a yield in excess of 15% on our quoted asking price. We believe the opportunity provides the necessary scope for a break up strategy to be successful. The portfolio is offered collectively and will not be sold in part. 12 Kings Road 23 Osborne Road ENERGY PERFORMANCE CERTIFICATES Sample EPCs are available to view and download from the data room. ADDITIONAL INFORMATION An extensive information pack is available to view and download online at: https://datarooms.allsop.co.uk/register/Yorkshireportfolio METHOD OF SALE The portfolio is being offered for sale by way of Private Treaty however we reserve the right to conclude the marketing by an Informal Tender process. VIEWING INFORMATION 11 St Vincent Avenue 3 Stirling Street The portfolio will be subject to block viewing arrangements and will not be available for viewing internally outside of these times. ASKING PRICE Offers are invited in excess of £3,000,000 subject to existing tenancies, subject to contract Please contact the office to register your interest: Anthony Hart Jack Robson Michael Linane 0113 243 7950 0113 243 7952 020 7344 2623 8th Floor, Platform, New Station Street, Leeds, LS1 4JB [email protected] [email protected] [email protected] Tel: 0113 236 6677 www.allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. .
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