Over the last 12 months or so income-producing assets have overtaken consented development sites as our hottest commodity. Now that interest rates have been slashed to almost zero in light of the Coronavirus pandemic, we anticipate even greater demand for existing buildings capable of generating rent. Funding might start to prove a challenge (again), but for cash-based investors, where else will they get a better return and long term capital growth?
Towards the end of 2019 our commercial team was instructed to sell this freehold residential investment in Sidcup. The property comprises four self-contained flats; all let on AST's and producing a total rent of £46,350pa.
No national advertising campaign was required. We have over 17,000 applicants on our database, and our electronic mailshot generated a host of enquiries. Several busy block viewings were held, and numerous offers received.
The deal was agreed with a Manchester-based investor who exchanged and completed simultaneously just a couple of days before Christmas.
If your business requires a cash injection and you own the building you occupy, why not consider a sale & leaseback? Alternatively, if you have a property similar to that above, or even just an individual Buy-To-Let from back in the day, please contact us for some free advice entirely without obligation.
PROJECT ADDRESS: 2-4 Birkbeck Road, Sidcup, Kent DA14 4DE