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A rare opportunity acquire a newly converted apartment block in central Gloucester approaching full occupancy. Offers in excess of £3 million invited.
The current passing rent is £192,240. The rent roll once the remaining units at let will be £208,560 per annum.
The recently converted property comprises a former
detached concrete framed office building dating circa 1970, creating 27, one and two bedroom apartments. Vehicular access to the building is via Russell Street with a gated car park providing 27 spaces. The apartments are finished to a good standard and provide modern kitchen and bathroom facilities. The property benefits from electric water heaters and newly fitted double glazing. The site covers a total area of 0.37 acres (0.15 hectares). All 27 apartments are vacant, built in accordance with Part M Building Regulations for affordable housing.
7 x One Bedroom Apartments
20 x Two Bedroom Apartments
Building can be split vertically into two