A freehold block of 30 modern flats in the recently converted Old Police Station situated in the centre of the large South West Leicestershire town Hinckley. The block comprises a mixture of studio, one and two bedroom flats over four floors, currently fully let with a combined income of £213,180pa, representing a GIY of 7.36%.
Details The freehold property comprises a detached period 1930's former Police Station arranged over basement, ground and two upper floors. Internally, the property provides thirty self-contained flats (3 x studio, 16 x one bedroom and 11 x two bedroom).
Having undergone extensive re-development in 2017 to form the residential investment, each flat is well appointed, with modern bathroom and kitchen fittings throughout.
7+ secure parking spaces are provided for the development.
Each flat is currently let on 6 or 12 month Assured Shorthold Tenancy agreements providing an annual income of £213,180 - We are informed there is scope for further increases on the current rent amounting to an additional £14,000pa.
Location Situated on Upper Bond Street, 5 minutes walk in the centre of the thriving South-West Leicestershire town, Hinckley.
Hinckley is a town in the South-West of Leicestershire, situated in close proximity to Nuneaton, Warwickshire. Hinckley is the second largest town in Leicestershire, which is located 14 miles South-West of Leicester and 14 miles north east of Coventry.
It is strategically located in close proximity to the M69 which provides excellent access to the M1 (J21). Hinckley has a population of 43,246 (2001 census).
Hinckley has undergone major redevelopment in recent years including the multimillion pound town centre retail and leisure development "The Crescent" with further plans in discussion. RentSchedule Available Upon Request Viewings and Directions Strictly by appointment only through the sole agent Oliver Rayns.