Asking price: £1,900,000

Sales revenue: £170,000

Net profit: Undisclosed

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
25 Residential Properties for Sale.
An excellent opportunity to purchase a well established property investment portfolio, all properties are located within close proximity on the same estate. All properties are in good order having being refurbished within the last three years.
There is a mix of 21 x 3 bed maisonettes and 4 x 1 bed flats. There is no significant expenditure required to continue the letting operation. The properties are in good location and are continually occupied with a very reliable income for the new owner.
At the moment the properties are all self managed but could be handed to an Agent for a lower price due to the logistics of the properties.
All properties are held on a 99 year Lease with 76 years remaining.
Support & Training: The owner would be happy to assist the new owner for a smooth transition.

Years established: 16 years

Home based: This business can be run from home.

Property: Leasehold

Lease terms
Service Charge £800.00 per annum per 3 bed maisonette and £600.00 per annum per 1 bed flat. At present there is a Right to Manage Company in place, new owners can choose to get involved with the management of the estate and with a majority shareholding would have a lot of authority with regards to where monies should be expended. Service Charges are now due to be reduced as all major works on the estate have now been completed and could be as much as a 50% reduction.

Location
Residential Estate

Expansion potential
There is also planning permission being sought for 17 of the 3 bed maisonettes for conversion into 2 x 1 bed flats, with planning permission gained a further income of £85,000.00 should be expected.

Reasons for selling
The owner wishes to retire.