Attractive Investment Property in Great Location
April 2023
Leading commercial property specialists Greenslade Taylor Hunt are marketing a solid residential opportunity in a prominent location.
The agents are quoting a guide price of £2.1M for the 15 well-appointed flats set over three adjacent former Victorian townhouses in a sought-after area of Taunton.
The studio, one-bedroom and two-bedroom flats have all been upgraded in recent years and all are let – the majority with long term tenants. It generates an income of £138,960 per with agreed increases this year and estimated market rents increasing this to £148,500 per annum.
All the flats are double glazed and feature quality kitchen and bathroom fittings plus fitted floor coverings.
Well appointed – one of the flats.
Duncan Brown, Partner at Greenslade Taylor Hunt, said; “This is an attractive looking property in a prominent position in a great residential location in Taunton.”
The property at 54,56 and 58 Trull Road is within walking distance of the town centre and hospital. It enjoys impressive views from the rear and three of the flats have their own gardens.
It is set back from the road with a paved yard to the front providing parking for nine vehicles. There is also rear access via a private road to the side of the property.
This investment is available subject to the existing Assured Shorthold Tenancies at a guide price of £2.1M. Based on agreed and market rents this reflects a gross yield of 6.7%, allowing for purchaser’s costs at 5.75%.
The property is not VAT registered, therefore VAT will not be payable on the purchase price.
For more information and to arrange a viewing please contact Joseph Hughes or Zack Dennington on 01823 334455 or email joseph.hughes@gth.net or zack.dennington@gth.net
The agents are quoting a guide price of £2.1M for the 15 well-appointed flats set over three adjacent former Victorian townhouses in a sought-after area of Taunton.
The studio, one-bedroom and two-bedroom flats have all been upgraded in recent years and all are let – the majority with long term tenants. It generates an income of £138,960 per with agreed increases this year and estimated market rents increasing this to £148,500 per annum.
All the flats are double glazed and feature quality kitchen and bathroom fittings plus fitted floor coverings.
Well appointed – one of the flats.
Duncan Brown, Partner at Greenslade Taylor Hunt, said; “This is an attractive looking property in a prominent position in a great residential location in Taunton.”
The property at 54,56 and 58 Trull Road is within walking distance of the town centre and hospital. It enjoys impressive views from the rear and three of the flats have their own gardens.
It is set back from the road with a paved yard to the front providing parking for nine vehicles. There is also rear access via a private road to the side of the property.
This investment is available subject to the existing Assured Shorthold Tenancies at a guide price of £2.1M. Based on agreed and market rents this reflects a gross yield of 6.7%, allowing for purchaser’s costs at 5.75%.
The property is not VAT registered, therefore VAT will not be payable on the purchase price.
For more information and to arrange a viewing please contact Joseph Hughes or Zack Dennington on 01823 334455 or email joseph.hughes@gth.net or zack.dennington@gth.net