Buy-to-let investment for an ageing population

We live in an ageing population.   With the Rolling Stones headlining Glasto at 70 and when the new mid-lifer crisis comes at 50 or even 60 this is obviously the case.  An ageing population and a greater life expectancy means that there is an increasing amount of 'empty nesters' looking at downsizing.  An investment opportunity for landlords?  I suspect so but I'm not sure how we capitalise on it.  This investment property in Westcliff-on-sea in the Southend suburbs could be the ideal way of investing in the grey pound.  At just over £2 million for the block the passing gross yield comes in at just over 10% with an opportunity to up this through active management of the block.  All flats are subject to a 60+ age restriction which makes the entire line up of the Rolling Stones eligible!  Hey Mick, Keith can't get no satisfaction…. well come down to Westcliff-on-sea!

Property Details

Pavilion Heights, 21-23 Station Road, WESTCLIFF-ON-SEA, SS0 7RA

Detached Freehold Block comprising 30 flats and a ground floor retail unit:

    •    Two flats sold on long leases
    •    28 unsold flats (14 x one bed and 14 x two bed)
    •    25 flats subject to various tenancies, 3 vacant flats
    •    Ground floor retail unit subject to a commercial lease producing £12,000 p.a.
    •    Total current rent reserved: £232,490 p.a.
    •    Estimated rental value (fully let) £259,000 p.a.
    •    All flats subject to 60+ age restriction
    •    19 basement car parking spaces
    •    EPC’s available on request

Offers in excess of £2,150,000

James Hood
+44 (0) 207 344 2637
james.hood@allsop.co.uk
Tim Gladwin
+44 (0)20 7344 2632
tim.gladwin@allsop.co.uk
William Shoebotham
+44 (0)207 344 2659
william.shoebotham@allsop.co.uk

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