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Westlake Apartments Four Chimneys Crescent 15 Unit Apartment Building $3,064,393 ($204,293/Unit) Peterborough PE7 8FU
Investment Highlights
- Prominent Location
- All apartments are let to private individuals on assured shorthold tenancy arrangement
- Corner Position
Executive Summary
The property comprises a self-contained modern residential block constructed around 2015/6 providing 15 self-contained flats arranged over ground and two upper floors.
Each floor provides two x 1-bedroom flats extending to around 42.7 sq m (460 sq ft) each and three x 2-bedroom flats extending to around 52.8 sq m (568 sq ft) each, accessed off communal lobby and corridor areas. The block provides a total floor area of around 731.4 sq m (7,873 sq ft). We have not measured the individual units, and the floor areas are provided by the vendors. Interested parties are advised to check their floor areas on inspection. The apartments are well maintained and benefit from a self-contained and gated car park to the rear of the building providing 15 car parking spaces. £2,250,000 for the freehold interest subject to the existing leases, assuming flat 185 is let at £775 per month, reflecting 6.67% Gross Initial Yield.
Each floor provides two x 1-bedroom flats extending to around 42.7 sq m (460 sq ft) each and three x 2-bedroom flats extending to around 52.8 sq m (568 sq ft) each, accessed off communal lobby and corridor areas. The block provides a total floor area of around 731.4 sq m (7,873 sq ft). We have not measured the individual units, and the floor areas are provided by the vendors. Interested parties are advised to check their floor areas on inspection. The apartments are well maintained and benefit from a self-contained and gated car park to the rear of the building providing 15 car parking spaces. £2,250,000 for the freehold interest subject to the existing leases, assuming flat 185 is let at £775 per month, reflecting 6.67% Gross Initial Yield.
Property Facts
| Price | $3,064,393 | Apartment Style | Low-Rise |
| Price Per Unit | $204,293 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Tenure | Freehold | Building Size | 7,873 SF |
| No. Units | 15 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2015 |
| Property Subtype | Apartment |
| Price | $3,064,393 |
| Price Per Unit | $204,293 |
| Sale Type | Investment |
| Tenure | Freehold |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 7,873 SF |
| No. Stories | 3 |
| Year Built | 2015 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 460 |
| 2+1 | 9 | - | 568 |
Contacts
-
Julian
Welch
-
Steve
Hawkins
-
Pennell & Partners Estate Agents Chris Burton -
Pennell & Partners Estate Agents Steve Hawkins
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Westlake Apartments | Four Chimneys Crescent
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