* Freehold
* Development of 35 Studios
* Rental £270, 000 per annum
* High Specification
The subject property is located in a convenient location just off the the
bustling Ball Hill neighbourhood shopping district which extends as ribbon
development along the busy A4600 Walsgrave Road in the middle Stoke district
of Coventry.
Local shops, schools, bus services and other main amenities are all readily
accessible as is Coventry University with the A4600 providing a direct link
with the city centre (which is approximately 11⁄2 miles distant) and also the
M6/M69 intersection at Walsgrave Triangle on the eastern outskirts of the
city.
There is Pay and Display public car park immediately adjoining the site.
This is an attractive relatively recently constructed purpose built 3 storey
block of 35 studio apartments which has always enjoyed near 100% occupancy
(current rental income circa £270, 000 per annum) and with the opportunity now
to potentially to put a new 15 year lease in place at a rental at £281, 000 per
annum stepping up to £280, 000 in year 2 with provisionally agreed 3% annual
rent increases thereafter.
A schedule of the current tenancies (as at 10th May 2023) is incorporated
within the 'Other' Link in the Property Documents section at the bottom of
these details.
Features of the development include Smart video intercom system to each room,
Smart heating controls, Smart fob operated doors, fully furnished rooms with
kitchenettes to each room (incorporating microwave and fridge/freezer),
kitchens on each floor and electric gates affording access to the rear car
park (with 11 marked spaces).
Accommodation:
Plot: 12, 000. 00 sqft

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