opportunity to purchase six one bedroom apartments currently let and managed on assured shorthold tenancies with an annual income of £52,200 providing a yield of approximately 5.5 per cent with potential for six per cent.”
“They all went to market with tenants – effectively with a proven track record of rental income – and sold. Also, we only have one vacant apartment, number 102, left.” It is truly, the last call to board the phase one investment scheme. If one apartment is not enough, watch this space for news of phase two l To find out more visit Bakersquay.com
one – and turns its attentions to phase two, which promises a further £20 million of investment. Phase two promises to be equally exciting – the conversion of the Downings, Malthouse and Transit Shed buildings into more residential and restaurant space, but unfortunately we can’t say too much about that here. What we can say is, it bodes well for those who already have their money sitting in the thriving residential, leisure, retail and tourist hot spot – and perhaps makes those who have not rather feel like they have missed the boat. All understandable, except the latter part, about missing the boat, is not true. Okay,The Cottages in High Orchard Street, penthouse apartments and elevator apartments are sold – but there is still an opportunity. And if ever an investment opportunity was easy to set sail aboard, this could be it. “We had six investment properties we had leased tenants for more than a year now, which still have tenants, which we decided to sell as we move into concentrating on phase two." We are talking about what is known as the Provender building, or to those with exceptional memories, once Provender Mill and before that the old Foster Brothers Oil and Cake Mill. It is a building “sympathetically designed to blend seamlessly into its historic surroundings, with many iconic features of the original mill retained”. A phoenix from the ashes of Provender Mill, ravaged by arson in an attack on the eve of the project’s start. The sales pitch described the package of six flats – priced at £950,000 for the group – as “a unique
December 2019 | www. punchline-gloucester .com | 13
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