Investment Colchester

Property Details: • Type: Block of Apartments • Tenure: FREEHOLD • Floor Area: N/A

Key Features: • The collection forms four properties centred around a 38 spaces carpark. • Converted hotel providing twelve studio apartments • The Pump House, consists of 4 studio apartments. • 4 Abbeygate Street, 6 bedrooms and 1 bedroom apartment. • A carpark. • A storage barn with further potential subject to planning permission. • Close to public transport. • Gross Income circa £290,000 per annum. • Impressive 10.5% yield

Location: • Nearest Station: Colchester Town Station • Distance to Station: 0.22206640923204102 miles

Agent Information: • Address: 2 Station Road, Woodbridge, IP12 4AL

Full Description: An opportunity to purchase a well run property rental portfolio currently producing a gross income of approximately £290,000 per annum in the centre of the thriving city centre in Colchester. <br /><br />The Bridgebank Portfolio consists of four properties centred around the carpark with access from Osbourne Street. The flagship property is a Grade 2 listed 18th Century renovated, converted hotel, providing twelve studio apartments, three ensuite rooms and two shared facility rooms producing a gross income of circa £159,500 per annum.<br /><br />The Pump House, a detached property converted into four studio apartments producing a gross income of circa £41,500 per annum.<br /><br />4 Abbeygate Street, a four storey Grade 2 Listed late 18th century Victorian house, six bedrooms with shared facilities over three floors and a self contained one bedroom apartment with separate rear access, producing a gross income of circa £48,000 per annum.<br /><br />A 38 space carpark let to business users on a permit basis, producing an income of circa £41,000.<br /><br />A storage barn adjacent to the carpark with further potential subject to planning permission.<br /><br />Location<br /><br />With its strategic location in the heart of Colchester City Centre and all the city's everyday amenities. The Bridgebank Portfolio ensures high rental demand and long-term growth potential. Within close proximity to the City Centre Bus and Train Stations as well as the A12, access to all parts of the UK are within easy reach. By car, Stansted Airport is within 45 minutes and London is 75 minutes. Trains to London Liverpool Street Station run every half hour in peak times and, with journey times as little as 45 minutes, Colchester is a vibrant and sought after commuter location.<br /><br /><br /><br />