5 bedroom block of apartments for sale

We are delighted to present this lucrative opportunity to acquire a block of four modern apartments located in the bustling main shopping area of Leckhampton, Cheltenham, with offers being invited in the region of £850,000. This property represents an excellent prospect for investors looking to expand their portfolio in a sought-after area that combines residential charm with proximity to local amenities.

Property Overview
The building comprises two adjoining mid-terrace structures, constructed from rendered brick and topped with a pitched, tiled roof that exudes contemporary style and functionality. Each of the four well-designed apartments is easily accessible through a communal entrance situated between two commercial establishments on the ground floor. The apartments are laid out over the first and second floors, providing an appealing layout while maximizing the use of space.

Apartment Features
Each apartment features a well-thought-out layout that includes:

Entrance Hallway: Serving as a welcoming entry point, the hallway leads to the main living areas of each unit.
Living/Dining/Kitchen Area: The heart of every apartment is the spacious open-plan living/dining/kitchen room. Each kitchen is fully equipped with modern appliances, ensuring residents have everything they need for comfortable living and entertaining. The layout encourages an interactive living space where cooking, dining, and relaxing can all take place seamlessly.
Bedrooms and En-suites: Each two-bedroom apartment includes two en-suite bathrooms, offering privacy and convenience for residents. The one-bedroom units come with a well-appointed shower room easily accessible from the corridor, enhancing functionality.
Tenancy Schedule
At present, all four apartments are let out under “Assured Shorthold Tenancies,” generating a combined rental income of £46,500 per annum, which translates to a gross yield of 5.47%. This consistent rental income provides an exciting opportunity for any prospective buyer. Below is a detailed tenancy schedule for the apartments:

Apartment One:

1 Bedroom
Rent: £800 per month
Area: 54.26 sqm
Apartment Two:

2 Bedrooms
Rent: £1,200 per month
Area: 82.80 sqm
Apartment Three:

1 Bedroom
Rent: £900 per month
Area: 49.35 sqm
Apartment Four:

1 Bedroom
Rent: £975 per month
Area: 55.57 sqm

Location Advantages
Cheltenham, famously known as a spa town, is characterized by its vibrant culture, historic charm, and a population of approximately 115,000 residents. The town is located in the picturesque Cotswolds and combines an attractive urban environment with ample outdoor spaces.

Accessibility
One of the most appealing aspects of this location is its access to major transport routes. The property lies in proximity to the M5 motorway, which runs along the fringes of the town, allowing for efficient travel to surrounding areas. The main A40 road provides direct access to Oxford and London, facilitating smooth transportation for commuters and visitors alike.

In addition, Cheltenham is served by a mainline railway station that offers direct connectivity to major cities including London and Birmingham. This excellent transport infrastructure enhances the property’s appeal, both for current occupants and future tenants looking for convenient commuting options.

Local Amenities
Living in Leckhampton provides residents with a blend of urban convenience and local charm. The nearby shopping areas feature a variety of retailers, cafes, and restaurants, ensuring that daily needs and leisure activities are readily accessible. The area is also known for its lush parks and green spaces, making it an inviting environment for families and individuals alike.

For residents seeking cultural experiences, Cheltenham boasts a rich calendar of events, including the renowned Cheltenham Festival, which draws visitors from all over the country. Residents can enjoy theatres, art galleries, and a series of food festivals that celebrate the town's culinary scene.

Investment Potential
Investing in this block of apartments presents a strategic opportunity within a growing market highly coveted by renters. The combination of modern facilities, quality construction, and a prime location becomes a compelling proposition for those looking to capitalize on the thriving rental market in Cheltenham. The ongoing appreciation in property values, coupled with consistent rental demand, provides a strong foundation for potentially lucrative capital growth over time.

Acquiring this property not only grants ownership of a well-maintained and strategically located asset but also positions investors to benefit from a steady rental yield. The current tenants can provide immediate returns, with the opportunity to explore rental increases in line with the market trends as leases come up for renewal.

Viewing Arrangements:

Strictly by prior arrangement with the agents (Due to the building being tenanted at least 24 hours notice required).