Off-market blocks of self-contained flats on a single freehold title, all let: several rents from one purchase, with no service charge or ground rent to pay.
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Tenancy: Fully let across all four flats: one at £700 pcm and three at £550 pcm.
Four self-contained flats on a single freehold title in Ashton-under-Lyne (OL6), all let, with a combined rent of £2,350 pcm (£28,200 a year). Off-market: the vendor is selling to reinvest closer to home.
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Freehold block of three flats in LS15, sold as one title to an investor in my network. Tenancies were already well managed, so the sale went through cleanly.
Not financial or investment advice. Figures are as let at the time of purchase. They are not a guarantee of future performance, or that similar stock will be available.
One purchase, one set of legal fees and several rents. You own the whole building, so you control the repairs and the costs, and one empty flat doesn't stop the income.
That the flats sit on one freehold title, how many are let and at what rents, how long the tenants have been there, and any arrears.
Some investors later split a block into separate leasehold flats. It can add value, but it needs legal and lending advice first, so treat it as a possible upside rather than part of the numbers. I can put you in touch with a solicitor who handles title splits.
Yes. Lenders call these multi-unit freehold blocks, and a number of buy-to-let and commercial lenders cover them. Rates and loan sizes vary more than on a single flat, so a specialist broker helps. I can introduce you to one who arranges this lending.
No. You own the freehold, so you set and pay for the upkeep yourself.
Yes. The deal pack lists each flat with its rent, tenancy and how long the tenant has been there.
Yes. Viewings are arranged with the tenant, with proper notice, once you have read the pack and want to go further. A viewing doesn't hold the property, though: it stays on the market until the reservation fee is paid, so if you want it, move quickly.
Registering and receiving deal packs is free. If you buy, there is a buyer's fee of £3,000 or 2% of the price, whichever is higher. The fees page has the details.
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