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£1,650,000
Roxan Court, Banister Road, Southampton
- 15 beds
£1,650,000
- 15 beds
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Overview
An exciting investment opportunity has arisen to acquire an established apartment block comprising 15 apartments made up of 12 x studio bedroom apartments and 3 x 1 bedroom apartments as well as secure underground parking accommodating 16 parking spaces. All the apartments are currently rented out and achieving in the region of £80,000 in rental income per annum. The apartment block is in a prime position, just a short walk to Southampton City Centre with its array of restaurants, shopping facilities and local and national transport links. There is potential for increasing the income for the apartments with internal improvements and rent reviews along with further development of the site **SUBJECT TO PLANNING ** and the necessary consents. It would be a great opportunity for an investor or property developer with a strong rental return already being achieved and scope to develop further in the future. With internal improvements and rent reviews we believe the income could potentially increase to c£125,000. Currently the gross yield is approximately 4.5% with a projected gross yield of approximately 7%.
Council Tax Band: A
Tenure: Freehold
Material Information - Southampton - Tenure Type; Freehold
Council Tax Banding; BAND A
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