Block of flats for sale in Rear Of Shadyside, Doncaster DN4

Investment Consideration:
Gross Initial Yield: 7.49%
Rental Income: £63,700 p.a.
VAT is not applicable to this property
Entire block let until 2038. No breaks. Fixed rental uplift of 1.5% annually.
Comprises residential block of 7 x 1-bed supported living apartments (Class C3)
Situated within 1.1 mile from Doncaster Train Station and Town Centre with retail occupiers nearby including Fish n Chips, Convenience Store, Pharmacy and others.

Property Description:
Comprises two-storey residential block of 7 x 1-Bed socially rented supported living apartments (Class C3). The property was newly converted in 2022 and benefits from 4 car parking spaces, bike storage, managers offices and large outdoor communal area, providing the following accommodation and dimensions:
Ground Floor: 196 sq m (2,109 sq ft)
Flat 1: 39 sq m (420 sq ft)
Open Plan Studio, Kitchen, Dining, Bathroom
Flat 2: 41 sq m (441 sq ft)
Open Plan Studio, Kitchen, Dining, Bathroom
Flat 3: 49 sq m (527 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
Flat 4: 67 sq m (721 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
First/Second Floor: 204 sq m (2,196 sq ft)
Flat 5: 64 sq m (689 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
Flat 6: 65 sq m (700 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
Flat 7: 65 sq m (700 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
2 Offices: 10 sq m (107 sq ft)
Total gia: 400 sq m (4,307 sq ft)

Tenancy:
The property is at present let to Inicio Group Ltd for a term of 15 Years from 28th June 2023 at a current rent of £63,700 per annum and the lease contains full repairing and insuring covenants. No breaks. Fixed rental uplift of 1.5% annually.

Location:
Doncaster is a large minster city in south Yorkshire and has a population of over 127,000, but the Metropolitan Borough of Doncaster, which it is part of, has over 300,000. Doncaster has been enjoying some major regeneration projects in recent years, including a new cultural quarter, the train station is being transformed, a new central library and museum are in the works and the popular Lakeside area is being revamped. The property is situated within 1.1 mile from Doncaster Train Station and Town Centre. Occupiers nearby include Fish n Chips, Convenience Store, Pharmacy and others.