Commercial property
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Rare Residential Investment Portfolio with Development Land For Sale, Mildenhall and Lakenheath, Suffolk

Investment for sale
£10,000,000 / NIY 6.30%
Summary
  • Rare portfolio of 102 residential properties let on ASTs located in Mildenhall and Lakenheath, Suffolk
  • First time to the market for c.50 years
  • Total site area of 14.69 acres
  • 1.25 acres of potential development land in c.17 plots
  • Freehold
  • Consistently strong letting performance and currently c. 98% let
  • Historically low rent and management costs
  • Many tenants in occupation for over 6 years
  • Various asset management strategies with potential to break up and/or refurbish the properties, enhance management, develop and significantly grow rents
  • The properties are not elected for VAT
  • Our client is seeking offers in the region of £10,000,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a yield of 6.30% (assuming MDR purchaser’s costs of 4.80%) on the basis of the current gross income and £470,000 for the development land
  • The residential element equates to a capital value per sq ft of c.£117.50 based on the approximate GIA
  • A purchase at this level would reflect an average capital value per unit of £93,400
  • The development land reflects £376,000 per acre
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