‘Turn-key’ 33 flat unbroken Freehold hits the auction market

An unbroken Freehold of 33 flats in Leicester has been listed by Network Auctions for sale in their 19th April London auction. Guided at £1.9m the flats have an estimated rental value of £184,800 per annum.

The recently refurbished block occupying a site area of 0.28 acres in Upper Temple Walk, Leicester comprises 11 x 1 bedroom and 22 x studio flats with planning consent to create two further flats from ground floor storage.

Toby Limbrick, director, said “We are excited to offer such an attractive lot to the auction room. It is a readymade turn-key investment and there is no 3% investor levy. At the guide price this produces a yield of 9.7% with the opportunity to increase rental income by implementing the planning consent. It’s unusual to find unbroken Freeholds of this size and we believe the market will be competitive.”

Network Auctions London sale will be held on 19th April at Grosvenor House Hotel, 86-90 Park Lane, W1K 7TN.

Full details here:- https://www.networkauctions.co.uk/london-auction/?lid=69254&ClientID=24&src=36