Agent Details

Slades Estate Agents

Tel: 01202 548855

Residential Development For Sale in Linden Walk, Beck Row, Bury St. Edmunds


Summary

A superb investment of 19 DETACHED properties offered as a whole

Description

DESCRIPTION
This superb investment is offered as a whole and is currently generating an income of £286,440 giving a yield of 5.7%. All the units are currently let on assured short-hold tenancy basis to USAF military members from the local RAF Mildenhall, Lakenheath and Feltwell USAF bases. The properties are all in a small cul-de-sac at the end of Linden Walk on a site of approximately 180 homes built by Persimmon homes in 2004. Specifically for occupation by USAF military members. The properties were specifically designed to suit American standards and are all detached with considerably larger accommodation than would be expected for a UK constructed property or sold to any member of the public.

The adjacent USAF bases currently have 20,000 USAF military members and their dependants with the majority requiring off base accommodation in properties such as Linden walk. Although RAF Mildenhall is scheduled to close in 2023, with military members preferring modern, larger properties in close proximity to the bases the rental demand for these properties is expected to continue for many years. Balmforth are happy to provide an overview of the USAF rental market in order to explain in more details the strength and qualities of the USAF rental market.

The properties are all under a full managed service with Balmforth Estate Agents and further details are available on request.

The USAF rental market has many unusual features and operates in a framework of set rental levels dictated by a service member’s rank. Most military members have a three year tour and will normally stay in the property for the full length of their tour. Occupancy levels are extremely high and with the tenants coming under the USAF discipline, provide extremely reliable tenants with minimal issues.

The properties have been maintained to an extremely high standard with redecorating or new floorings provided whenever necessary.

The properties were originally constructed with a planning restriction which only permitted occupation by USAF military occupation. This restriction has now been lifted and the properties are therefore able to be occupied in the normal residential manner.

With Cambridge only 18 miles distant the opportunity to rent to tenants further afield has not yet been explored and remains a further option if required.

The rents quoted are correct as of October 2016 and may be subject to change. 
The properties are only available as a whole:-
All rents are per calendar month
27 - £1350pcm - 4 Bed - The Rufford - 1657sq ft
29 - £1150pcm - 3 Bed - The Kennett - 1342sq ft
31 - £1350pcm - 4 Bed - The Marlborough -1657sq ft
33 - £1150pcm - 3 Bed - The Lark - 1495sq ft
35 - ALREADY SOLD
37 - £1350pcm - 4 Bed - The Rufford - 1657sq ft
39 - £1030pcm - 3 Bed - The Kennett - 1342sq ft
41 - £1000pcm - 3 Bed - The Kennett - 1342sq ft
43 - £1350pcm - 4 Bed - The Rufford- 1657sq ft
45 - £1100pcm - 3 Bed - The Lark - 1495sq ft
47 - £1030pcm - 3 Bed - The Kennett - 1342sq ft
49 - £1035pmc - 3 Bed - The Kennett - 1342sq ft
51 - £1100pcm - 3 Bed - The Lark - 1495sq ft
53 - £1035pcm - 3 Bed - The Kennett - 1342sq ft
56 - £1000pcm - 3 Bed - The Kennett - 1342sq ft
58 - £1150pcm - 3 Bed - The Lark - 1495sq ft
60 - £1150pcm - 3 Bed - The Lark - 1495sq ft
62 - £1350pcm - 4 Bed -The Rufford - 657sq ft
64 - £99pcm     - 3 bed - The Kennett - 1342sq ft
66 - £1075pcm - 3 bed - The Kennett - 1342sq ft

The properties are all under a full managed service with Balmforth Estate Agents and further details are available on request.
The sale will be by way of a holding company which will give any purchaser a saving of £228,400, as stamp duty on the individual properties will not be paid consequently the price is not negotiable.

AGENT'S NOTE AND SALE TERMS
The details and all correspondence on this portfolio are subject to a confidentiality agreement. Further details are available on the status of all the tenancies etc. Please contact the office for further details. 
The sale of the whole will be by the sale of the holding company. The play area is under a separate freehold and will form part of any sale - contact the office for details. 

No 35 has already been sold and is not included in the portfolio

Disclaimer

The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation.

Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.

For further information see the Property Misdescriptions Act

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