Queens Road, Nuneaton

The property comprises a block of 32 apartments, being 14 one beds and 18 two beds arranged in three blocks. The property was completed to a high standard in 2023 and is situated in a sought after location just outside Nuneaton town centre.

The apartments have all been finished to a good specification to include contemporary grey fitted kitchens, with wood effect working surfaces and integrated ovens, hob and extractor fans, and modern bathrooms with white suites, wood effect flooring and stylish grey tiling. All apartments benefit from UPVC double glazing and heating by way of a heat interface unit communal heating scheme, providing excellent EPC 'B' ratings for each unit.

Each apartment benefits from a car parking space in the communal car park.

The property is located around 1/3 mile west of Nuneaton town centre and has frontages and vehicular access to both Queens Road and Fife Street. The B4102 Queens Road is one of the main arterial routes into Nuneaton town centre and provides access to the A444 Jubilee Way and in turn the A5 at Redgate and M6 at Exhall Interchange.

Nuneaton is located approximately 24 miles east of Birmingham and 9 miles north of Coventry. Motorway access to the town is extremely good, being 5 miles north of the M6 junction 3 and having good links to the M69/M1 and M42 motorways. Rail services to London Euston are available in approximately 1 hour 12 minutes. Major facilities include Ropewalk Shopping Centre and the Abbeygate Shopping Centre.

We understand that mains electricity, water and drainage are connected to the individual flats. Heating to the flats is by way of an electric Heat Interface Unit system. Utilities are included within the rent for the individual flats.

The Freehold interest in the subject property is available, subject to the assured periodic tenancy (APT) agreements in place, at an asking price of £4,250,000.

We are advised that the gross pass rent (net of utilities) is in the order of £303,000 per annum, with individual rentals between £725 and £900 per calendar month. Based on the asking price, this allows for an attractive gross yield of 7.1%.

Each party to bear their own legal costs.

All units within the development have EPC ratings of 'B'