7 Property Investment Opportunity

Property Portfolio Opportunity

Belvoir Andover are delighted to be bringing to the market 7 individual apartments located on Andover’s High Street in an historic and picturesque heritage property.

The building is being sympathetically restored and converted to allow a mix of studio, 1 bed & 2 bed apartments.

A communal entrance hall greets you home with a sweeping grand staircase to the upper floors and an atrium allowing daylight to come flooding down through the centre of the building.

This unique investment opportunity allows you to potentially buy from 1, to all 7 ‘off plan’ at an early stage where, if desired, you can watch and oversee the conversion process.

The properties can be purchased at a favourable rate by buying early and these prices are as follows:

		Type	Sq Ft	Purchase Price	Rent	Yield
Flat 1		1 Bed	705	£135,000	£650	5.78%
Flat 2	1 Bed		576	£130,000	£625	5.77%
Flat 3		1 Bed	433	£130,000	£625	5.77%
Flat 4		2 Bed	747	£155,000	£700	5.42%
Flat 5		Studio	449	£110,000	£575	6.27%
Flat 6		2 Bed	618	£155,000	£700	5.42%
Flat 7		Penthouse 1 / 2 bed	778	£155,000	£700	5.42%
Total			4306	£970,000	£4,575	5.66%
Average Yield						5.66%

We now have floor plans for the individual dwellings so we can these to you upon request.

About Andover
Andover, despite being a market town, has a high rental demand and relatively low availability driving rental prices upward. Great road links (A303/M3) and a mainline (London Waterloo) train station taking you to the nation's capital in under an hour make it an ideal commuter town. Many large brands make Andover their national/international HQ (Stannah Stair Lifts, Le Creuset Kitchenware, Twinings Tea, Lloyds TSB National Call Centre etc).

If you are interested in finding out more about this exciting investment opportunity, please contact Greg Greatbatch on greg.greatbatch@belvoirandover.com or by calling 01264 366611

What are the costs of buying or leasing a Commercial Property

Are you about to buy or rent a commercial property for the first time?

One thing you will need to build into your business plan is the costs of a commercial property.

In this blog you will learn about the various costs associated with buying or renting a commercial property:

Purchase or Rental costs

This seems an obvious one, but don't forget to check if there is VAT to pay on either of these. If the property is owned by a business the n the chances are there will be VAT to pay. It is common practice for an agent to say if the property is 'VAT Elected' or not. VAT at 20% can make a big impact on your set up and/or onward running costs.

Business Rates

OK so all commercial property you will have to pay the business equivalent of council tax. This starts off as the 'Rateable Value'. However, depending on a number of criteria, the council will give you up to 100% relief on the business rates. Read more about this by reading our blog on this subject by clicking here.

Solicitor/Legal Costs

Even though solicitors are normally used by both sides for the sale/purchase of a residential property, solicitors are rarely used for residential lettings. However, in the commercial world, solicitors are always used. This is for a variety of reasons and not least because of the longer term commitment that is presented in commercial property. The other 'norm' is the inbound tenant or purchaser often pays the legals costs of the landlord/vendor. If you are looking to lease a property, as with looking to rent a residential property, you will also be responsible for the costs of the background checking of yourself and/or the business that will be leasing the property. This is so the landlord can evaluate your credit worthiness and ability for onward rent payments etc. Some landlords even like to see a business plan before accepting you as a tenant so it is worth having this available if this becomes required.

Planning Costs

Each commercial property is given a 'Use Class' and this determines what the commercial property can be used for. For example if you were simply selling widgets, most likely you would need A1 Retail use. If you were an estate agent, you would need A2 Professional Services us. So if the property does not have the right Use Class, then it may be necessary for you to apply for a 'Change of Use'. This is usually approx £350 and is payable to the local council. Along with your application, you will need to provide detailed 'Plans'. These have to be correctly scaled either to 1:50 or 1:100 annotating the rooms proposed use. Contact us to arrange to have these plans drawn up.

If you are planning on leasing or purchasing a commercial property, please contact us at commercial@belvoirandover.com or telephone 01264 366611 for more information,

Belvoir is an award winning Commercial & Residential Real Estate Agent based in central Andover, providing modern & efficient property marketing services in the Andover, Tidworth, Ludgershall & Whitchurch areas of Hampshire & Wiltshire.