48 completed & tenanted apartments Current rent up to £1,211 per month Net yields up to 9.72% 30%+ Uplift Buy Back Option Washington Highway, Washington, NE37 1LW 0113 380 8930 [email protected] ereproperty.com Weardale House TENANTED - 3 YEAR ASSURED NET RENTAL INCOME IS £43,579 FOR 2 BEDS Deal summary: ERE Property is proud to present this recently converted development of 48 x apartments consisting of 18 x 2 beds and 30 x 1-bed apartments located in the town of Washington, west of Sunderland. All apartments are subject to a 125-year lease with a sub-lease granted for 25-years to Housing Association, who provide assisted living care. 1 Bed - £129,500 cash investment 2 Bed - £149,500 cash investment 9.27% - 9.72% Net Rental Assurance Potential buy back option within 3 years with (Minimum 30% uplift) No Landlord costs for: Ground Rent, Service Charge, Building insurance, Management Charge The lease commenced on 1 April 2022 and runs to 31 March 2047 at an annual rent of £624,000 which is paid at £52,000 per month, £12,005 per annum to you one month in arrears. The Net rental return is linked with to the CPI (Consumer Price Index) and can not go down. ERE can offer this opportunity to our clients to purchase: one-bedroom units at £129,500 which are let at £1,000 per month generating assured net rental yield of 9.27%. two-bedroom units at £149,500 which are let at £1,211 per month generating assured net rental yield of 9.72%. If you wish to be part of this opportunity to potentially profit 30% + within the next 3 years… Potential buy back option within 3 years - Minimum uplift of 30% as stipulated in Contract- £38,850 for 1-beds and £44,850 for 2-beds. Any percentage achieved over 30% will be split 50 50 between the apartment owner and the developer who will orchestrate the sale. Investment Overview: 'Exclusion of Liability - The information contained within this brochure in connection with developer involvement in the property(ies) transaction(s) and any Lease/Agreement with developer on completion, has been provided directly to us by developer and we have had no involvement in relation to this information. We do not accept any liability, whether by way of Misinterpretation, fraudulent or not, for the information provided by developer to us to market a property for sale containing developer’s offer to enter into an Agreement/Lease with a Buyer on Completion is to be true and correct.'
Weardale House Washington Highway, Washington, NE37 1LW 0113 380 8930 [email protected] ereproperty.com