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Freehold: Offers in the region of £3,500,000
Investment, Norwich
Freehold: Offers in the region of £3,500,000
Size: 12,359 SqFt (1,148 SqM)
Call Harry Downing on 01603 216806 or email harry.downing@arnoldskeys.com for more details on this property
Well located high-quality student accommodation near the University of East Anglia (UEA), Norwich Research Park and the Norfolk & Norwich University.
Rochester Court, Edgeworth Road consists of 11 properties, let for 51 weeks of the year. The properties benefit from private off-street parking with security lighting, and fully maintained landscaped gardens.
Gross internal area of 12,359 sq ft (1,148.14 m2).
Gross Income for 2022/23 will be: £270,060
Projected income for 2023/2024: £286,800
Offers in the region of £3,500,000 for the freehold interest based on the current projected annual income profile. This would provide a net initial yield of 6.06%, after allowing for the usual purchaser's costs and reflects a capital value of £283 per sq ft of 12,359 GIA.
This property and Harvard Court are held in an SPV. Purchase of the company can be arranged.
Rochester Court, Edgeworth Road consists of 11 properties, let for 51 weeks of the year. The properties benefit from private off-street parking with security lighting, and fully maintained landscaped gardens.
Gross internal area of 12,359 sq ft (1,148.14 m2).
Gross Income for 2022/23 will be: £270,060
Projected income for 2023/2024: £286,800
Offers in the region of £3,500,000 for the freehold interest based on the current projected annual income profile. This would provide a net initial yield of 6.06%, after allowing for the usual purchaser's costs and reflects a capital value of £283 per sq ft of 12,359 GIA.
This property and Harvard Court are held in an SPV. Purchase of the company can be arranged.