Guide price
£2,317,000
(£270.42/sq. ft)
Block of flats for saleGrove Park Road, Weston Super Mare BS23
8,568 sq. ft
About this property
Opportunity to acquire a residential portfolio of three properties providing specialist supported accommodation in the South West.
Ideally located in attractive areas of Pawlett, Weston-Super-Mare, and Eastington.
Comprising 8,568 sq ft (795 sq M) gia.
All three properties are let on an identical 20-year Fri lease to Westmoreland Supported Housing Limited, with annual cpi-based rent reviews on 1 April each year, capped at 4%.
Rent received £184,817 per annum. (Based on January 2026 topped-up rent).
All leases expire December 2041 (16 years unexpired) with a landlord option for the tenant to take a new 20 year lease at expiry (36 years unexpired
term).
Fully underpinned by vacant possession values.
Proposal
Guide Price £2,317,000 (Two Million Three Hundred and Seventeen Thousand Pounds) subject to contract excluding VAT. A purchase at this level would reflect a Net Initial Yield of 7.5%
Ideally located in attractive areas of Pawlett, Weston-Super-Mare, and Eastington.
Comprising 8,568 sq ft (795 sq M) gia.
All three properties are let on an identical 20-year Fri lease to Westmoreland Supported Housing Limited, with annual cpi-based rent reviews on 1 April each year, capped at 4%.
Rent received £184,817 per annum. (Based on January 2026 topped-up rent).
All leases expire December 2041 (16 years unexpired) with a landlord option for the tenant to take a new 20 year lease at expiry (36 years unexpired
term).
Fully underpinned by vacant possession values.
Proposal
Guide Price £2,317,000 (Two Million Three Hundred and Seventeen Thousand Pounds) subject to contract excluding VAT. A purchase at this level would reflect a Net Initial Yield of 7.5%
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