Elmgrove Court
478.36 sq m(5,149 sq ft)
Guide price £1,250,000(€1,417,093)

Elmgrove Road EastHardwicke, Gloucester, GL2 4PY

  • Under offer

Key features

  • Unique investment opportunity
  • Purpose built apartment block built in 2018
  • 5149 sq ft total rentable space excluding communal areas
  • Secure development behind electric gates
  • Parking including visitors spaces
  • Integrated CCTV and Solar Panel system
  • All let on Assured Shorthold Tenancies

A unique freehold rental investment opportunity comprising ten apartments, currently generating a gross annual income of about £82,000.

About this property

  • Elmgrove Court is modern development of 10 apartments all let on assured shorthold tenancies, and generating over £82,000 per annum.

    The property is accessed via a set of metal gates in to a secure parking area and each property has at least one allocated parking space, with a good range of visitors spaces, including two at the front of the building. At the far end of the car park is a gravelled communal garden and two of the apartments have private courtyard gardens.

    There are three floors of accommodation with four apartments on each of the first two floors and two apartments on the second floor. A summary of the accommodation is found below. This includes current rents which is correct as at the time of printing.

    Summary of accommodation
    Flat 1 – 43.3sqm/ 466sqft – 2 bedrooms - £675pcm
    Flat 2 – 41.3sqm/ 444sqft – 2 bedrooms – £675pcm
    Flat 3 – 43.3sqm/ 466sqft – 2 bedrooms – £675pcm
    Flat 4 – 43.6sqm/ 469sqft – 2 bedrooms – £675pcm
    Flat 5 – 43.3sqm/ 466sqft – 2 bedrooms – £675pcm
    Flat 6 – 43.5sqm/ 468sqft – 2 bedrooms – £695pcm
    Flat 7 – 45sqm/ 484sqft – 1 bedroom – £650pcm
    Flat 8 – 57.9sqm/ 623sqft – 2 bedrooms – £695pcm
    Flat 9 – 36.7sqm/ 395sqft – Studio - £600pcm
    Flat 10 – 80.7sqm/ 868sqft – 3 bedrooms – £825pcm
    Current total per calendar month (correct at time of going to print) - £6,840pcm (£82,080pa)

    ADDITIONAL INFORMATION
    Services
    Mains water, electricity and drainage. Electric heating to each apartment and hot water supplied by PV panels located on the roof. A central CCTV is fitted to all external and communal areas, and L3 fire alarm system is installed, and Virgin and BT is supplied to each apartment.

    Tenure
    Freehold.

    Local Authority
    Stroud District Council - https://www.stroud.gov.uk/

This is a great opportunity to invest in a brilliant self-contained rental package with very low maintenance and an impressive income

Chris JarrettProperty agent

Local information

  • Elmgrove Court is situated in the village of Hardwicke, itself situated approximately equidistant between the city and county centre of Gloucester to the North, and the town of Stroud to the South West. In addition, the M5 is within easy reach, meaning that this location could well be viable for renters from various different areas.
  • Located just off the Bristol Road, a short distance from the A38, the property is in a very accessible location, with a good range of day to day amenities nearby, including a convenience shop next door. Surrounded by residential property, the development is in a quiet location but still providing excellent access to more comprehensive facilities.

Additional information

  • EPC Rating = B