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CCL Group LTD View more business for sale by this agent
CCL Property are delighted to present an attractive residential investment opportunity situated in the tranquil village of Halkirk, Caithness. Originally a poorhouse dating from 1856, Fairview House is a substantial residential complex comprising of 17 individual flats. There are one, two and three bedroom flats arranged over two floors. Fairview House provides rentals to a variety of clientele with different requirements. Rental yield is above the national average at 7.5 %. With full factoring in place the property can easily be owned and managed from a distance. Multi-tenant residential investment.
Achievable rent of c. £60,000 p.a. Yield 7.5% Short Scottish Secure Tenancy (SSST) agreements throughout. Capacity to increase rental income and alter lease agreements. Rent review due Occupancy rates typically 90% Fully factored Easily managed Offers Over £850,000 Property In 2007/8 Fairview House underwent a major refurbishment. The property, a traditional stone construction with tiled roof, offers accommodation in a linear formation with a mixture of one, two and three bedrooms throughout the length of the building. Spread out over two floors, the flats all have a very bright and spacious feel. On the ground floor there is a kitchen and accompanying sitting room, these are either separated or open plan.
The kitchens are fitted with wall and base units that provide great storage and work space, a cooker and hob. The sitting room all have a phone and media sockets with connections for Sky, Freesat and Freeview. The bedrooms and bathroom are situated on the upper floor. Each bathroom is fitted with a three-piece suite comprising: bath, W.C and vanity wash hand basin. The property is easily managed and requires very little maintenance. The factor undertakes cleaning and upkeep of the communal areas and any light maintenance that is required.
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