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Protected: Attractive Residential Investment
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for sale
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£
295,000
Asking price
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Location
The capital city of Wales, Cardiff is located 69 km (43 miles) west of Bristol, 171 km (106 miles) south west of Birmingham and 240 km (150 miles) west of London.
Cardiff benefits from excellent road communications with access from Junction 29, 30, 31, 32 and 33 of the M4 Motorway. Cardiff Central railway station provides regular daily services to all parts of the United Kingdom including London Paddington with a fastest journey time of 2 hours and 12 minutes.
Cardiff International Airport is located 19 km (12 miles) south west of the city centre and provides scheduled daily flights to a number of UK and mainland European destinations.
Not only is Cardiff the administrative centre for the Welsh Government, it is also the principal finance and business centre for Wales and one of the United Kingdom’s principal business locations. The City boasts many national and global companies, employing over 200,000 people and over 630,000 in the wide Capital Region.
Summary
- Three x 1-bedroom apartments
- Let on Standard Occupation Contracts (SOCs) (replacing AST’s in Wales from December 2022)
- Total income £26,400 per annum
- Located in a popular area of Cardiff
- VAT-free investment
- £295,000, subject to contract
- 9% Gross Yield
- You can exchange now! The sales platform allows a purchaser to submit a binding offer, with completion conditional upon finance or survey, or unconditional. So you can secure your investment immediately!
- Contract deposit only £5,000 as opposed the “usual” 10%.
Situation
The property is situated on Albany Road, within the attractive neighbourhood of Roath, approximately 1.6 km (1 mile) north-east of the city centre. Described as the ‘Bohemian side of Cardiff’, Roath is known for its tree-lined avenues, Victorian properties, parks and lakes.
There are numerous local amenities, shops, restaurants and public houses along Albany Road with surrounding retailers including Tesco Express, Iceland, Greggs, Costa, Home Bargains, Superdrug and Boots.
The area is popular with young professionals and students, given its close proximity to the city centre and main university campuses.
Roath Park is less than 1.6 km (1 mile) to the north. Covering an area of 130 acres including a 30 acre lake, this is one of Cardiff’s most popular parks and has been awarded the prestigious Green Flag award.
Description
The property comprises three self-contained 1-bedroom apartments. Flat 1 is on the first floor and Flats 3 & 4 are located on the second floor. The flats share a communal ground floor entrance and lobby accessed via Albany Road.
Each flat comprises an entrance hallway, open plan kitchen/reception room, 1 no. bedroom and bathroom /WC.
The properties are located above commercial premises which do not form part of the sale.
Accommodation
We are advised that the property provides the following approximate areas:
| Sq M | Sq Ft | |
| Flat 1 | 35.70 | 384 |
| Flat 3 | 35.10 | 378 |
| Flat 4 | 32.50 | 350 |
A set of floor plans is available to download.
Tenure
Each flat is held long leasehold for a term of 150 years from 11th December 2018 at £100 per annum, hence a total ground rent of £300 per annum.
Tenancy
Each flat is held long leasehold for a term of 150 years from 11th December 2018 at £100 per annum, hence a total ground rent of £300 per annum.
| Flat No. | Start Date | Expiry | Rent (PCM) | Rent (PA) |
| 1 | 25/05/23 | 24/05/24 | £750.00 | £9,000 |
| 3 | 11/12/21 | Holding over | £750.00 | £9,000 |
| 4 | 20/01/23 | 19/07/23 | £700.00 | £8,400 |
| Total | £26,400 |
VAT
The property has not been elected for VAT and therefore VAT is not applicable on the purchase price.
Proposal
We are instructed to seek a figure of £295,000 (Two Hundred and Ninety Five Thousand Pounds), subject to contract, reflecting a gross yield of 9%.
Please note that a purchaser will be re-charged the costs of the searches (£357.60) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of £5,000 plus VAT.
You can exchange now! The sales platform allows a purchaser to submit a binding offer, with completion conditional upon finance or survey, or unconditional. So you can secure your investment immediately!
Contract deposit only £5,000 as opposed the “usual” 10%.
Investment Considerations
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An opportunity to acquire an attractive residential investment;
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Three x 1-bedroom apartments;
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Let on Standard Occupation Contracts producing a total income of £26,400 per annum;
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Located in a popular neighbourhood of Cardiff;
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VAT-free investment;
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A purchase at the asking price reflects an attractive yield;
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Attractive lot size to an investor.
Contacts
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Singer Vielle
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Vendor's Solicitor Firm
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Disclaimer
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All Properties are listed subject to contract and the prices shown are exclusive of VAT if applicable.
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