Freehold Ground rents secured to modern housing developments , across the North West , Cheshire ST7 2GU

Description

Description A portfolio of freehold ground rents secured against 106 houses located across modern housing developments throughout north-west England. The properties are subject to 999-year leases, commencing between 2014 and 2017. The portfolio produces a total income of £27,485 p.a.

and has an overall average ground rent of approximately £259 per dwelling. The portfolio also incorporates additional houses subject to nil or peppercorn ground rents. Further information is available within the legal pack.

A summary of the addresses are as follows and for full details, please refer to the legal pack CH276803 & CH641466 18 address - £4,635pa William Higgins Close, Alsager, Stoke-on-Trent, ST7 2GU John Cliff Way, Alsager, Stoke-on-Trent, ST7 2ZU Frank Wilkinson Way, ST7 2GQ Reginald Lindop Drive, ST7 2GW CH624412 5 addresses - £1,500pa Blears Avenue, Nantwich, CW5 6GG CH524448 & CH536849 - 10 addresses - £3,000pa Oak Tree Rise, Malpas, SY14 7FA Hughes Lane, Malpas, SY14 7FB Sandland Grove, Nantwhich, CW5 6GF Stanley Boughey Place, Nantwhich, CW5 6GQ CH617994 - 19 addresses - £4,750pa Foxglove Way Northwich.

CW9 7XS Mulberry Close Rudheath, Northwich, CW9 7XT CH225387 - 18 addresses - £4,500pa Bell View Widnes, WA8 9BG CH646184 - 11 addresses - £2,750pa Hill Top Grange, Davenham, Northwich, CW9 8XE Bowfell Close, Davnham, Northwich,CW9 8XE Scarfell Crescent, Davenham, Northwich, CW9 8XD CH632155 - 3 addresses - £850pa George Gallimore Drive, Haslington, Crewe, CW1 5AQ Frank Keating Close, CW1 5AR MS633058 - 22 addresses - £,5,500pa Atholl Duncan Drive, Wirral, CH49 0WD Hosking Close CH49 0WG Malley Close CH49 0WJ Tenure Freehold

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• Specialist asset: working market value is estimated from guide, asset type, income/development potential and local market evidence; midpoint £192,500.

HB estimated GDV: £177,000 low / £193,000 base / £208,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental / Income Value

Stated passing income located in the property information is approximately £27,485 pa. For this specialist asset, passing income is more meaningful than imposing a standard AST rent.

Strategy & Value Analysis

This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.