Key Information
- Gross rental income £217,140 per annum
- Easy walking distance De Monfort University Campus and city centre amenities
- Offers in the region of £2.5 million
- Option to acquire 0.34 acre development site (by way of separate negotiation)
- Offers in the region of £2.5 million. A purchase at this level reflects an attractive Gross Yield of 8.67% and a low capital value of £43,103 per bed space.
Westdale Court is a modern, purpose built, six storey residential apartment block. Constructed in 2014, the property is of steel frame construction clad with brick and render incorporating extensive double glazing under a flat roof. The building is made up of 15 cluster apartments (5 x 3 beds, 7 x 4 beds, 3 x 5 beds) comprising ten duplex and five single floor units. In total there are 58 bedrooms all benefiting from en-suite shower facilities with the exception of four of the 3 bed apartments (No's. 10, 11, 14 & 15) which have shared facilities. This configuration provides the flexibility for the block to be operated across the living sector such as for student accommodation or supported living. Each apartment features painted plastered walls and ceilings, a mixture of carpet and ceramic tile floor coverings, suspended/tube lighting, fitted kitchens with a range of base and wall mounted storage units with integrated electrical appliances/cooker, washer dryers and en-suite shower rooms with part ceramic tiles walls, a WC and handwash basin. The building has electric wall mounted heating throughout, fire detection system, CCTV, computer and television cabling, PIR hallway lighting and a central passenger lift. Additional facilities include an office and bin store on the ground floor.
Location
Westdale Court is situated in a prominent position at the northern end of Western Road, in close proximity to De Montfort University (5 min walk) and approximately 1.5 miles southwest of Leicester city centre. The location is convenient for access to nearby popular areas of Hinckley and Narborough Road which, in turn, links with Leicester's Ring Road system and Junction 21 of the M1/M69 motorways. Narborough Road provides an established retailing location and to the north access to the Braunstone Gate area with its bars, restaurants and leisure amenities, whilst Leicester City Centre and De Montfort University are both easily accessible with nearby conveniences including Starbucks, Lidl and Pure Gym.
VAT
The property is not elected for VAT and therefore is not payable on the purchase price.
EPC
A full list of domestic ratings is available on www.epcregister.com
Legal Costs
Each party is to bear their own legal costs incurred.
Planning
The property benefits from Class C3 (Residential) of The Town and Country Planning (Use Classes) (Amendment) Regulation 2020.
Viewing
Viewings are by appointment with sole agents Innes England.