Gross Yield: 6.8%
Block of Apartments
45, Citadel Road, Plymouth, Devon, PL1 3AU
We are delighted to offer this superb development which could be the perfect hands-off investment with capital appreciation and cashflow.
45 Citadel Road is located on a prominent road in Plymouth close to the many tourist spots and City Centre and is currently being developed into 5 x luxury apartments by an experienced local developer (bio available on request) who can also offer on-going management services. The basement and ground floor will consist of 2 x spacious 2-bed apartments and then 3 x large 1-bed apartments on will be located on the floor above. The planning number is 19/01858/FUL and we encourage any interested parties to inspect this.
The properties have been earmarked as ideal short-term rentals for contractors (off-peak) and tourists and there is an expectation that an income of £125,455 can be generated PA which equates to yield of 15.7% gross.
As BTL properties we envisage an income of £54,600 PA which equates to a very healthy yield of 6.8% +.
Expected Income, Costs & Net Income (before lending costs and tax)
Flat 1 - 2-bed apartment - expected income £12,000 PA
Flat 2 - 2-bed apartment - expected income £12,000 PA
Flat 3 - 1-bed apartment - expected income £10,200 PA
Flat 4 - 1-bed apartment - expected income £10,200 PA
Flat 5 - 1-bed apartment - expected income £10,200 PA
Total - Income £54,600 - Yield 6.8%
Completion Expected Winter 2020
Striking Building and Development
Respected Local Developer
Management Agent in Place
Holiday Let Opportunity
2% + VAT Buyers Fee Applies
2% + Vat