£16,920 per annum from a 1 bed apartment in Blackpool, with no running costs to the owner.
To be clear from the start: you are investing in property with a commercial lease in place, not buying a business. The apartment is let on a 25 year agreement to a housing association that provides supported living accommodation. It is already operating, and the rent is paid monthly with annual increases.
Unlike a buy to let, you do not manage the property or deal with tenants. You are buying the apartment with the lease already in place, and the income that comes with it. Asking price £120,000.
Investment highlights:
- Asking price £120,000
- £16,920 per annum rental income, paid monthly with annual increases
- No running costs
- 25 year agreement with a housing association providing supported living
- The operator paying the rent turns over around £30 million a year, which is a large part of what makes the covenant strong
- Fully passive: no staff, no premises to manage and no day to day involvement
- Already operating, with income from day one
The property is a 1 bed apartment in a modern, low rise red brick development in Blackpool, set within well kept landscaped communal gardens with a ...