MULTI TENATED RESIDENTIAL INVESTMENT SOLD BY FHP

Investment News

Acting on behalf of private clients FHP Property Consultants are pleased to announce the completion of the sale of the above residential investment property situated in Derby.

Carlton House, which is situated on London Road, Derby comprises a Grade II Listed four storey building.  The property comprises six 1 bedroom flats, eight 2 bedroom flats and benefits from a private car park to the rear.

When fully let, the building produces an income in the region of £80,000 per annum.  The quoting sale price was £1 million and a deal was agreed at that level reflecting a Net Initial Yield of 7.59%.

Darran Severn of FHP Property Consultants comments:

“I am delighted to have completed this sale which has been a great result for all involved.  Given the nature and location of the property I was not surprised at the strong interest we received for the building.  This enabled us to strike a deal within a matter of weeks.  There is great demand for freehold properties, both occupied and vacant, particularly lot sizes under £1 million from local investors.” 

Daniel Holder the purchaser comments:

I am thrilled to take ownership of Carlton House, a few bumps in the road along the way but with the help of FHP and the managing agents Phoenix Lettings Derby we managed to complete the purchase.”

For further information on the sale please contact Darran Severn on 07917 460031 / darran@fhp.co.uk.