19 bedroom block of apartments for sale

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19 bedroom block of apartments for sale

55 Broadway, Peterborough, PE1 1SH
£2,600,000

Our Summary

  • Selective licensing was introduced in 2024 and all required licences for the development have been granted without issue; licences run for five years

Description

This property is a refurbished residential investment in Peterborough, comprising 19 one and two-bedroom apartments with 15 allocated parking spaces. The property was renovated and converted from 18 to 19 units in 2016-2017 and is being sold for £2,600,000. The current passing rent is £217,680 per annum, representing a gross yield of 8.37%. The property is located in a prominent corner position on Broadway, a short walk from Peterborough train station, and benefits from strong transport connectivity and a diverse local economy. The city of Peterborough has experienced sustained population growth and has a long-term requirement for housing, making it an attractive market for property investment. The property is offered with a range of amenities, including shops, restaurants, and bars, and has a C EPC rating.