Swannack House, Bridgegate | Property for sale | Savills
Offers invited

Swannack HouseBridgegate

  • New
Residential investment

Key features

  • 17 self-contained units (4 flats and 13 studios) in a single block
  • Ground floor retail unit
  • Unbroken freehold block
  • Modern conversion with the residential fully let
  • Potential to hold as an income producing residential investment
  • Potential to sell the units individually
  • Passing Rent of the residential £134,628pa
  • Estimated Rental Value of the retail of £12,000pa
  • Gross Initial Yield of 8.4%
  • Excellent occupancy history since converted

A Residential Investment Portfolio of 17 Flats in an Unbroken Block (Available only as a Whole)

About this property

  • Swannack House (also known as Redforde House) is made up of 17 self-contained units (comprising 4 flats and 13 studios) and a small ground floor retail unit, in a single block on one freehold title. It was developed by the Vendor for their own investment purposes in 2020. It is a good quality conversion of the former Swannack’s department store. It is not listed but is within a Conservation Area. The residential is fully occupied on individual ASTs. The retail is vacant but anticipated to be let at the point of sale. The site is adjacent to a large pay and display car park. The development has been undertaken to a good standard of build. This comprises a ‘back to brick’ approach with new electrics, plumbing, flooring, plastering, windows and roofing throughout. Each unit is individually metered. The specification is also good with Intercom access, modern kitchens and bathrooms, electric radiators, smoke and heat detectors, recessed lighting, LVT to kitchens and bathrooms and carpeting to living areas and bedrooms.

Local information

  • Retford is a market town with a population of 23,740 (2021 census) in north Nottinghamshire. It is 31 miles north of Nottingham, 26 miles north east of Sheffield and 23 miles west of Lincoln.
  • The local economy is strong. Retail, health, manufacturing and education are major employers. There is also a high representation of arts & recreational, finance & insurance jobs.
  • Retford is served by two railway lines, the East Coast Main Line which runs between London and Scotland, with trains taking from 1hr 20 minutes to London Kings Cross, and the Sheffield to Lincoln Line which has links to Sheffield, Lincoln, Gainsborough, Worksop, Grimsby and Cleethorpes.
  • Swannack House is situated on Bridgegate, near to the river Idle, which runs through the town, less than 100m from Kings Park and less than 100m from the town market square.
  • Walk - Pedestrian access is off Bridgegate
  • Rail – Retford Train Station - 0.8 miles
  • Road – Retford is located off the A1 – 3.6 miles (7min drive)

Additional information

  • Please see brochure for additional information.

Energy performance

All units have an EPC of D, with the exceptions of Studios 4 and 6 which have a rating of C and Studio 10 which has a rating of E. Each EPC has an expiry date of 04 August 2030 with the exception of Studio 18 which is 11 October 2030.