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11 property portfolios for sale

11 property portfolios for sale

Here are the latest batch of property portfolios
being offered by one of our trusted property sourcers

To enquire about any of these property deals please
telephone Mike – 07977220380

Sourcing Fees Apply

West Yorkshire – Portfolio of 85 apartments + 1 house 

West Yorkshire based portfolio of 86 properties that consists of 85 apartments and one house.

They sold off the freeholds to all the developments a few years ago which is a shame as they have almost an entire block or two in the portfolio.

The properties held within a specific purpose Limited Company and the book value is circa £7 Million (GBP)

The developers are looking to net £5.5 Million (GBP) or very close to.

Fully let currently it generates some £447k (GBP) pa in income before ground rents and service charges.

Net yield is over 7%

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Liverpool PBSA site 1

OIRO £2,000,000 (GBP)

•   Land Sold with Planning Permission for 356 Student Rooms

•   Site Size 1.195 acres, 4830 Square Meters

•  Nov 2012 Lending Val £3,450,000.00

•   Building can Start in August

•    In Clusters with Open Plan Lounges and Kitchens

•   Contemporary Building Over 5 Floors

•  Student Lounge, Cate, Gym Laundrette and Player Room

•   5 Wings, 5 Lifts

•   Parking Spaces and Bike Ports

•  Commun11I Gardens Are.as

•   200 Yards from Liverpool University

•   A short Walk to Liverpool’s City Centre

•   Lifetime Covenant  indemnity  insurance

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Liverpool PBSA site 2

Opportunity in Liverpool for PBSA with Planning Permission for 140 units.

There has also been a favourable nod from the council to increase to 284 units.

Purchase Price: £1.75 Million (GBP) – as is – for the site with full planning permission as above.

Site with full planning permission for new 6 storey building consisting of 122 student rooms in 22 clusters, 18 self contained flats and 1 retails unit with associated parking and landscaping.

The planners have indicated that they would be sympathetic to an amendment to the above application in line with the proposals outlined in the Concept Design brochure to uplift planning permission to 284 beds. They also agreed that they accept that an increase in the number of units to 284 would be a more effective use of the site along with a design more consistent with the current surrounding buildings. Potential GDV £18 Million (GBP)

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Sheffield     47 apartments

Sheffield 47 apartments 9.4% net yield / 26 % BMV

42 units available made up of studios, 1 bed & 2 beds all fully let and 5 commercial units.

The price also includes the freehold on the whole development.

Sheffield Facts:

·       Freehold of 120 including commercial units.

·       Commercial Units- 1-5 see spread sheet. upon request

·       2 Bedroom flats-6 see spread sheet. upon request

·       1 Bedroom flats-27 see spread sheet. upon request

·       Studios-9 see spread sheet. upon request

·       Total number of properties 47.

·       Lease 150 years from November 2007.

Summary

•         Bank valuation = £4,380,000 (GBP) + Freehold. Valuation was done in December 2013

•         Sales price = £3,909,000 (GBP) if each unit is sold individually (10.8% discount)

•         Sales price = £3,225,000 (GBP) if purchased as bulk as one transaction (26.4% discount)

•         Net income from rental income & ground rents = £302,378 (GBP)

•         Net Yield = 9.4%

…………………………………………………………………………………………….

Nelson     17 houses

Offers circa £620,000 (GBP) for 17 houses.

All fully renovated to an excellent standard and local agents say the 2 beds would go for £50k and the 3 bed £60k.

Only two minutes walk from the town centre.

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Balham, London

SUMMARY PROPOSAL

Beautiful victorian luxury development of 16 tenanted, fully

furnished apartments of which 13 are available to acquire.

All current tenants are on 6 months AST’s.

The Estimated Rental Value (ERV) is £400,000 (GBP) p.a.

We are proposing either individual sales (see individual price schedule TBC) or

will consider selling all 13 apartments as a single asset sale and include

the entire freehold for £9,250,000 (GBP)

……………………………………………………………………………………..

Social Schemes/sites

1.        Mossley Hill, Liverpool.

Approx. 2 acres with consent to erect 1, 2, 3 and 4 storey buildings comprising a) 95 bed Residential Care Facility b) 23 Sheltered Accommodation apartments c) 90 x children nursery d) 46 x children after school accommodation.

2.       Randlay Centre, Randlay, Telford.

Approx. 1.24 acres with consent for 72 bed care Home and 18 apartments.

3.        Blythe Bridge, Staffs.

Listed building in poor state of repair with current planning for 14 apartments but owners are applying new consent for 40 bed Care Home plus two guest rooms and managers accommodation at the luxury end of the market. Set in own grounds.

4.        Wem, Shropshire.

Currently owners in for planning for 9 houses and 13 apartments but essentially application made to establish to total approved square footage of 25,000. There is a demand locally for Care Home facilities and a waiting list. This square footage would translate into say 60-80 beds.

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Gravesend, Kent

Full planning 86 flats (1,2&3 beds) + c.900 sqm commercial/retail unit

Est. Build costs £5.6-6Million (GBP) (£65k per unit)

Est. GDV £15 Million (GBP) (avg. £185K per unit) + up to £3 Million (GBP) for retail unit

Site value £3.6-4 Million (GBP)

Offers above £3 Million (GBP) for a quick sale

Sales fee 2%

Gravesend has links to the Ebbsfleet train station so direct fast service to London St Pancras

The proposal is as follows:

Demolish existing 6 storey office block

Build 4 new blocks (1×4 storeys, 1×5 storeys & 2×6 storeys)

86 flats (30×1 Bed, 48×2 Bed & 8×3 Bed 4 of which will be penthouses and 26 affordable units)

923m2 of mixed commercial units (A1,A2 and D)

98 car parking places

Original planning was back in 2008, but was revised in 2013. Full planning is in place.

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Manchester

Rusholme student Properties 3 Bed 2 reception terraced houses – Potential student 4 bed let

Hartington Street 3 bed property recently refurbished 2 Receptions tenants in place 12mths A £600

Cowesby Street 3 bed property recently modernised 2 double bedrooms 1 single bedroom and 2 Receptions tenanted at £600 PCM

Both properties cash purchasers only current market values £115K-£125 therefore both properties should cost £235,000 (GBP) MIN, time is of the essence and these properties will sell very quickly as both are tenanted and have been modernised.

……………………………………………………………………………………………………..

Doncaster

Two terraced properties in Doncaster that we can let go for £65,000 for both, one needs and update (heating system and some new windows) and one is good to go. Both 3 beds with a potential rental return of between £350-400pcm.  Brochures on request and find it’ll return minimum 14.7% gross yield…

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Widnes 

Victoria Road – Widnes – Google maps

– Estimated Value – £288,000 (based on comparable property + sq footage)

– Estimated Income – £1,670pcm (based on previous income NET of management fee)

– Offer needed – £200,000

End plot spread across 3 stories including basement and attic space.

Recently updated but minus a kitchen. 3 Rooms on the top floor. 2 reception rooms (open plan) on the first floor.

Chicken Shop on ground floor fully fitted with £60,000 worth of equipment still under warrantee.

Reason for selling, need to release some capital and previous business didn’t take off under franchise. Not to say it can’t be better managed in the future.

An alternate route may be converting the commercial aspect to residential to produce a high returning flats / bedsits depending on the sort of tenant you’re likely to attract in the area.

Closest market comparable is below, please bear in mind it is a mid unit and nowhere near the size of the premises on offer
Comparable Commercial Unit – Widnes

To enquire about any of these property deals please
telephone Mike – 07977220380

Sourcing Fees Apply

New LHA Rates for 2014 -2015 Published

New LHA Rates for 2014 -2015 Published

Local Housing Allowance (LHA) Rates Change In April

Every year the Government publish Local Housing Allowance (LHA) rates that are periodically reviewed and payment levels in some UK regions may change without notice.

The April 2014 – March 2015 LHA rates have now been published and the revised list makes interesting reading for landlords and letting agents who are willing to accept tenants claiming benefits.

UK private rental sector landlords are able to ensure rental property profits by allowing their properties to be let to tenants claiming housing benefit (HB), with local authority rental payments exceeding buy-to-let mortgage payments.

Continue reading »

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Property repossessions In the North of England are higher than national average

Property repossessions In the North of England are higher than national average. Property
May Be Cheaper But It Is More Likely To Be Repossessed

4 Of Top 10 Property Repossession Areas
Are In North West of England

A new study by e.surv chartered surveyors has revealed the top 10 hotspots for property repossessions in the UK, and the results show that property owners in the North are less able to keep up with mortgage repayments than property owners in the South.

e.surv’s researchers analysed Ministry of Justice figures for court-ordered repossessions for the 12 months up to 30th June 2013, plus the company’s own data, and found the largest North-South divide since the onset of the financial crisis, with 3.2 repossessions per 1,000 households in the North of England, compared with 2.4 per 1,000 in the South of England.

Four of the UK’s top five “repossession hotspots” are in North-West of England according to the data with Chester, Blackpool, Oldham and Wigan among top five property repossession hotspots.

These areas are among those with the highest proportion of property owners who are struggling to keep up with mortgage repayments.

The data revealed that even despite all the media coverage about surging property prices in and around the capital, two areas within Greater London – Romford (3rd highest number of property repossessions per thousand households) and Croydon came in joint 7th on the repossession hotspot top ten.

Chester is the top UK city for property repossessions by a substantial margin, THREE times the national average!

The rest of the North-West of England does not fair much better with 8 out of 10 towns having above the national UK average number of property repossessions per thousand households.

This news presents an excellent opportunity for new, amateur and seasoned property investors to grab some property bargains as mortgage lenders and banks will be looking to offload these repossessed properties quickly so that they can get their money back, they are not looking to profit!

Lancaster, Liverpool and Carlisle in the North of England showed a lower than the average number of property repossessions, according to the data. However, despite being below the national average, Carlisle had seen a 37% increase in the rate of property repossessions in the 12 months to June 2013.

Other UK regions that also showed huge increases in the volume of property repossessions over 12 months, but remained below the national average are:

  • Taunton in Somerset – 34% increase in property repossessions up to 30th June 2013
  • Brighton – 30% increase in property repossessions up to 30th June 2013
  • Reading – 27% increase in property repossessions up to 30th June 2013

e.surv Director, Richard Sexton, said: “Residential property prices may be high in the capital, and employment prospects may be stronger, but in such densely populated areas, there remain property owners who are struggling with mortgage payments. Many borrowers have seen their finances slowly eroded by high inflation and increasing living costs. This has been particularly potent in London, where less affluent borrowers, by that I mean those who could only just afford to buy, have been badly affected. On a national level repossession numbers are falling as mortgages become cheaper, wages are slowly picking up and the employment market has more vitality. For the UK as a whole, repossessions fell 17% during the 12 month period, with 66,544 repossession orders granted in 2012-13, as opposed to 77,856 in 2011-12. As a region, the north has traditionally depended on public sector jobs, but a squeeze in public sector funding has led to loss of jobs for many, and very slow pay increases for others. Pay increases that are consistently below the rate of inflation have further tightened household budgets, and caused many to fall behind on mortgage repayments. There is still a long way to go before the northern property market returns to its pre-recession health, and all the while the north is still playing catch-up, and falling further and further behind the south.”

Top 10 Property Repossession Areas

 

UK Town / Region

Property Repossessions Per Thousand Households

Total Number Of Property Repossessions In 12 Months To 30th June 2013

1

Chester – North West

8.4

961

2

Blackpool – North West

4.5

570

3

Romford – Greater London

4.4

936

4

Oldham – North West

4.3

829

5

Wigan – North West

4.2

541

=5

Luton – Bedfordshire

4.2

565

7

Bradford – Yorkshire

4.1

1002

=7

Doncaster – Yorkshire

4.1

1356

=7

Croydon – Greater London

4.1

644

10

Northampton – Northamptonshire

3.8

966

 

 

 

 

 

 

 

 

Source: e.surv 

So what are you waiting for?

There will never be a better time to purchase repossessed properties, there are a great number of deals to be had from the areas listed in the table above.

Think of the table as a treasure map, with 10 UK locations offering repossession property deals direct from the banks and mortgage lenders.

Mark Lawton, 45, from Town Moor in Doncaster, who acquired a £2million property portfolio, including luxury properties in Tenerife and across South Yorkshire, through fraud has been jailed for two years at Sheffield Crown Court yesterday.

Investigations revealed that Mark Lawton, 45, from Town Moor in Doncaster had committed a series of frauds from which he amassed a significant property portfolio. He owned 17 properties in Tenerife and across Doncaster, which were rented out, but for which he didn’t declare any profits. He also lied about his financial circumstances to obtain a loan by deception, as well as providing false income details in order to claim the education maintenance allowance for his son.

Although Lawton also owned the extensive property portfolio he had claimed that his family’s small tanning salon business only made him an income of around £10,000 per year. HM Revenue & Customs (HMRC) estimate that Lawton had defrauded the taxpayer out of £65,000 in unpaid taxes alone.

Lawton was caught when HMRC seized 10,000 illegal cigarettes which he had been selling and £50,000 in cash stored at his home and business premises. He was found guilty of fraud and failing to pay tax on his business profits.

Lawton pleaded guilty to charges of cheating the public revenue, evasion of excise duty and possession of criminal property (£50,000 cash). He was sentenced yesterday to 24 months imprisonment for cheating the public revenue, three months imprisonment for the evasion of excise duty – sentences to run concurrently. £50,420 cash was forfeited to the Crown for the charge of possession of criminal property. Lawton was also ordered to pay £10,000 in costs.

Lawton’s wife Christina was convicted of fraudulently claiming the education maintenance allowance for their children. The couple’s accountant Joanne Outram, 42, from Rossington was also convicted of helping the couple to prepare false documentation, to facilitate their claim for the education maintenance allowance payments.

Peter Hollier, Deputy Regional Director of Criminal Investigation for HMRC said:

“Lawton made a significant effort to hide his business dealings from the authorities. He enjoyed the benefits of our public services and lived a lifestyle that many families work hard to achieve, but his activity was stealing vital public revenue. It is only fair to those hard working families that he has been brought to justice.”

Sentencing Mark Lawton yesterday His Honour Judge Kelson QC commented: “You and your wife were living well beyond your declared means. What you declared to the Revenue was far short of the correct figure – therefore you were enjoying a better lifestyle than that of honest people.”

The Judge also passed comment sentencing the couple’s accountant Joanne Outram stating: “You are a qualified accountant, a professional person and you did this for personal gain by keeping the custom of your client. The involvement by professional people by making claims on the state erodes the public confidence.”

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