8 bedroom block of apartments for sale

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8 bedroom block of apartments for sale

West Street, Reigate, Surrey, RH2
£1,450,000

Our Summary

  • TO BE SOLD AT ALLSOP AUCTION 21ST & 22ND MAY 2025 - UNLESS SOLD PRIOR * A recently converted residential investment opportunity located in Reigate, RH2
  • A recently converted residential investment opportunity, located in Reigate, RH2, located 0

Description

This residential investment opportunity in Reigate, RH2, is a recently converted property with 14 apartments, 6 of which have already been sold on long leases. The remaining 8 apartments, comprising a studio, 3 one-bedroom, and 4 two-bedroom units, offer a total of 4,547 sq ft NIA. The property is located just 0.5 miles from Reigate station and benefits from average values of flats already sold exceeding £500 psf. The estimated rental value of the residential apartments is £147,600 per annum, and the sold-off ground floor retail is occupied by 4 tenants. The apartments are being sold with vacant possession and 5 car parking spaces, with a guide price of offers in excess of £1,450,000, reflecting a low capital value of £318 per sq ft and an estimated gross yield of 10.1% against the estimated rental value.