Sold STC
Block of apartments for sale in The Old Forge, 33 St Peters Street (ref: 657942)
See mapOffers over £1,250,000
Key features
- Two purpose-built blocks with **6 x 1-bedroom flats** and parking spaces.
- Front block: **4 flats**, rear block: **2 flats**.
- **Planning permission granted** to extend Flats 1 and 2 by **1.8m**.
- Current annual income: **£79,000** with potential to increase to **£90,000**.
- All flats are under **AST agreements**.
- Estimated total market value: **£1,465,000**.
- Long-term investment with **rental growth** and capital appreciation potential.
Floorplan
1
Investment Opportunity - OIEO £1,250,000 for the Freehold Interest
We are pleased to present this well-maintained residential development consisting of two purpose-built blocks, offering a prime investment opportunity.
The front block contains 4 x 1-bedroom flats, while the rear block includes 2 x 1-bedroom flats, each with parking spaces. There is also planning permission granted to extend Flats 1 and 2 (rear block) by 1.8m, providing an opportunity for further development should the buyer wish to do so.
The current owner has enjoyed 9 years of consistent, high-yield income, with all flats under AST agreements, producing a strong rental return of £79,000 per annum, with the potential to increase this to £90,000 per annum.
Current Income and Tenancy Details:
Flat 1 – £10,500 PA – long-term tenant (market rent: £15,600)
Flat 2 – £15,600 PA – currently vacant to provide 'show' apartment
Flat 3 – £11,700 PA – under-let
Flat 4 – £13,800 PA – market rent (since June 2023)
Flat 5 – £13,800 PA – under-let
Flat 6 – £13,800 PA – under-let
Estimated Market Value (per unit):
Flat 1 – £240,000 - EPC states 34 sqm
Flat 2 – £240,000 - EPC states 35 sqm
Flat 3 – £240,000 - EPC states 34 sqm
Flat 4 – £245,000 - EPC states 39 sqm
Flat 5 – £245,000 - EPC states 37 sqm
Flat 6 – £255,000 - EPC states 49sqm
All flats have a current BLP 10 year Building Warranty:
Flats 1-2 expire on the 24th November 2024
Flats 3-6 expire on the 30th October 2025
All Flats have an EPC of C
Total estimated market value: £1,465,000
Asking price for the entire freehold: OIEO £1,250,000
This development presents a unique opportunity for investors seeking a reliable income stream with potential for rental growth and long-term capital appreciation. Contact us for more details on this off-market transaction. Read more
We are pleased to present this well-maintained residential development consisting of two purpose-built blocks, offering a prime investment opportunity.
The front block contains 4 x 1-bedroom flats, while the rear block includes 2 x 1-bedroom flats, each with parking spaces. There is also planning permission granted to extend Flats 1 and 2 (rear block) by 1.8m, providing an opportunity for further development should the buyer wish to do so.
The current owner has enjoyed 9 years of consistent, high-yield income, with all flats under AST agreements, producing a strong rental return of £79,000 per annum, with the potential to increase this to £90,000 per annum.
Current Income and Tenancy Details:
Flat 1 – £10,500 PA – long-term tenant (market rent: £15,600)
Flat 2 – £15,600 PA – currently vacant to provide 'show' apartment
Flat 3 – £11,700 PA – under-let
Flat 4 – £13,800 PA – market rent (since June 2023)
Flat 5 – £13,800 PA – under-let
Flat 6 – £13,800 PA – under-let
Estimated Market Value (per unit):
Flat 1 – £240,000 - EPC states 34 sqm
Flat 2 – £240,000 - EPC states 35 sqm
Flat 3 – £240,000 - EPC states 34 sqm
Flat 4 – £245,000 - EPC states 39 sqm
Flat 5 – £245,000 - EPC states 37 sqm
Flat 6 – £255,000 - EPC states 49sqm
All flats have a current BLP 10 year Building Warranty:
Flats 1-2 expire on the 24th November 2024
Flats 3-6 expire on the 30th October 2025
All Flats have an EPC of C
Total estimated market value: £1,465,000
Asking price for the entire freehold: OIEO £1,250,000
This development presents a unique opportunity for investors seeking a reliable income stream with potential for rental growth and long-term capital appreciation. Contact us for more details on this off-market transaction. Read more
Further details
- Status: Sold STC
- Tenure: Freehold
- Parking spaces: Allocated
- Reference: 657942
What else you need to know?
- Utility supply
- Broadband: FTTC
- Sewerage: Mains supply
- Other information
- Has gas: Yes
- Property age bracket: Modern
