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4 bed property, in Bridge Street, £750,000
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4 bed flat

Bridge Street, Witney, OX28
£750,000

Our Summary

  • The property has been held within the same family ownership for many years and offers a rare chance to acquire a stable, income-producing asset with immediate scope for improvement and rental growth
  • Whilst the property has been well maintained, most units would now benefit from a programme of light cosmetic refurbishment
  • Following a simple programme of redecoration, the property was re-let at £1,000 PCM within one week, clearly demonstrating the achievable uplift through modest expenditure
  • Asset Management & Value-Add Opportunity - This investment offers a straightforward and attractive asset management angle: Incremental rental growth through cosmetic upgrading Opportunity to improve specification and presentation across all units Ability to standardise rental levels Potential EPC improvements (notably Flat D – currently rated E) Strong letting demand for well-presented town centre apartments The projected uplift from £42,600 to £50,400 per annum represents an increase of approximately 18%, providing both enhanced income return and capital value growth
  • The ability to achieve rental uplift through relatively modest capital expenditure further underpins the attractiveness of this opportunity
  • This is an excellent opportunity to acquire a well-located, fully let residential investment in a strong Oxfordshire market town, offering both immediate income and clear scope for future growth

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Description

The property, 1 Bridge Street in Witney, is a freehold residential investment with four self-contained apartments, arranged over ground, first, and loft levels, and totaling approximately 2,443 sq ft. The accommodation is a mix of apartments on multiple floors, with each unit being self-contained and let on Assured Shorthold Tenancies. The property is well-maintained but would benefit from cosmetic refurbishment, offering an opportunity to increase rental income and capital value.

Each apartment is currently valued below market average, with an estimated income of £50,400 per annum after refurbishment, compared to the current £42,600 gross annual income.