Fully let 24 apartment investment in Bishop’s Stortford on the market with Watling Real Estate

It is now fully let, and Nathan Pask and Andrew Foster of Watling Real Estate have been appointed joint Law of Property Act Receivers on the 0.401 acres site. 

The 10,521 sq ft development comprises 23 one bedroom units and one two bedroom flat on the first floor. The property is gated and has parking for 22 cars.

Jamie Lamond, director in the London office of Watling Real Estate, said: “The flats are held on a long leasehold basis for a term of 250 years from August 2023 with 248 years unexpired, but the freehold interest is also available.”

The development currently produces a net rental income of £305,712 per annum but is described as having significant asset management potential. 

It lies just 0.3 miles from Bishop’s Stortford Rail Station with the town centre less than 0.5 miles to the north.

Lamond added: “Bishop’s Stortford is known for its excellent transport links, particularly due to its proximity and connections to both London and Stansted Airport.

“The connections make the area popular with those working at the airport and commuting to London resulting in strong rental demand.

“Bishop’s Stortford railway station has regular services to Stansted Airport and London Liverpool Street, with a journey time of nine minutes and 35 minutes respectively. The M11 motorway is less than two miles east of the property.”

Offers are invited in the region of £4.75 million which represents a net initial yield of 6.04% after fees and costs.

For further details, see https://watling.com/property/223110/ and email jamie.lamond@watling.com to arrange a viewing.