Marketed by
Graham & Sibbald
London
63 Jermyn St, St. James's, London SW1Y 6LX
New
1 of 6
Offers Over
£1,352,000
1-6, Richmond House, 61-71 Victoria Avenue, Essex, Southend-On-Sea, Essex, SS2 6FP
55477.14 sq. ft (5154 m²)
Key features
- Located within an established PRS market supported by ongoing regeneration and infrastructure investment across Southend-on-Sea.
- Prominently positioned on Victoria Way, within walking distance of Southend City Centre and main line railway stations, providing frequent direct services to London
- Six apartments situated within a modern high specification development benefitting from communal facilities, enhancing tenant appeal and retention.
- The portfolio is 100% let on assured shorthold tenancies, generating a current gross income of £99,000 per annum and an ERV of £101,400 per annum.
- Offers over £1,352,000 (One Million Three Hundred and Fifty-Two Thousand Pounds). A purchase at this level reflects an attractive gross yield of 7.5%, adopting the ERV, and a low capital value of £262 per Sq. Ft.
Description
Richmond House Plaza is a modern and popular residential apartment scheme that was redeveloped to Residential in circa 2020. The building is finished to a high specification throughout the building, which incorporates a well presented entrance lobby with intercom controlled security system.
Residents benefit from a range of well-maintained communal amenities including dedicated co-working areas to support flexible home-working.
Internally, the apartments benefit from a mix of hard wood and carpeted floors, modern bathrooms and kitchens with
integrated appliances.
Externally, the property benefits from secure allocated parking within the communal car park. The portfolio is
being sold with the benefit of 2 car parking spaces.
Residents benefit from a range of well-maintained communal amenities including dedicated co-working areas to support flexible home-working.
Internally, the apartments benefit from a mix of hard wood and carpeted floors, modern bathrooms and kitchens with
integrated appliances.
Externally, the property benefits from secure allocated parking within the communal car park. The portfolio is
being sold with the benefit of 2 car parking spaces.
Reference: 140297_sales
Marketed by
Graham & Sibbald
London
63 Jermyn St, St. James's, London SW1Y 6LX
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