Upper Bond Street, Hinckley

An attractive freehold block of apartments located on Upper Bond Street on the fringe of Hinckley town centre. The development comprises six 1 bed and six 2 bed apartments with a secure car park accessed from Druid Street to the rear. All flats benefit from intercom access, UPVC double glazing and gas fired central heating. The accommodation offered by each flat briefly comprises: Reception Hall, Lounge, Kitchen (with built in appliances), Shower Room (some two beds also with Ensuite) and either one or two Bedrooms, dependent on the layout.

The subject property is located on Upper Bond Street on the fringe of Hinckley town centre, close to North Warwickshire and Leicestershire college, opposite from the Hinckley & Rugby Building Society and the police station. Upper Bond Street links Hinckley town centre with the A447 Ashby Road.

Hinckley is a market town with a population in the order of 55,000 (Local Authority 112,000) lying approximately 13 miles to the south west of Leicester. The town enjoys good motorway communications with Junction 1 of the M69 Motorway being located on the south eastern fringe of the conurbation approximately 2 miles from the town centre. Hinckley railway station provides regular commuter services to Birmingham New Street and Leicester.

We understand all mains services are connected to the property, heating to the individual apartments is by way of gas fired central heating. We are advised that gas safety checks and electrical installation condition reports are carried out annually and five-yearly, respectively.

The Freehold interest in the subject property is available, subject to the occupational agreements in place, at an asking price of £1,500,000.

We are advised that the gross passing rent is in the order of £81,120 per annum, with individual rentals between £475 and £695 per calendar month. Based on the asking price, this allows for an attractive gross yield of 5.4%.

As part of the sale the purchaser must guarantee the occupation of all tenants for one year post completion.

Each party to bear their own legal costs.

Flat 1 - C(79), Flat 2 - C(79), Flat 3 - C(78), Flat 4 - C(78), Flat 5 - B(82), Flat 6 - B(81), Flat 7 - B(81), Flat 8 - B(82), Flat 9 - C(80), Flat 10 - C(80), Flat 11 - C(80) and Flat 12 - C(79).