Hawk Works Mary St 14 Unit Apartment Building $3,761,054 CAD ($268,647 CAD/Unit) 7.90% Cap Rate Sheffield S1 4RU

Fully let residential investment opportunity producing £216,814 per annum gross income and circa £165,000 per annum net income. Available at offers in the region of £2,000,000 for the long leasehold interest. The acquisition reflects a quoted net initial yield of 7.9% with reversionary potential to approximately £187,200 per annum net income, equating to a reversionary yield of 8.95%.
Hawk Works comprises a converted former manufacturing plant of brick elevations with part pitched slate and part flat roofs. A feature building the property retains alot of character from its original use. The development offers stylish, high-quality apartments alongside a peaceful courtyard and two impressive roof gardens. The apartments are arranged over the first and second floors of the property with the other parts on ground floor falling within the demise of the asset disposed of on sub Long Leaseholds. This spacious one-bedroom apartment features a sleek open-plan kitchen and lounge. The flats have all modern appliances and all aspects are compliant and up to regulation standard. The entire property has been recently refurbished and decorated to a high standard keeping its condition competitive with comparable properties in the Sheffield private rented sector