Knight Frank - Edinburgh
This listing was posted on Knight Frank - Edinburgh (via ListedBuy).
£2,000,000
Nelson Mandela Place, Glasgow, G2 Property for sale - £
Price:
£2,000,000
Summary:
Used 2016
Location:
Glasgow, Glasgow
Description:
The building ownership has accommodation over 4 floors in total. The living accommodation is based on the first to third floors with an attractive main door entrance off Nelson Mandela Place. The building was fully renovated during its current ownership back in 2016 and consists of ten studio apartments in all. The properties have been managed and maintained well by Destiny Scotland. All ten apartments run off a well maintained central stair. On the first floor there are two superior studio apartments on this level which are spacious and bright benefitting from large windows and the grandeur of the high ceilings. These apartments are similar in fit out compared to the other flats however there is more space for a larger living area compared to the other serviced apartments. Each of eight studio apartments on the second and third floors have a spacious kitchen / living area including a fully equipped kitchen, good sized bedrooms with built in storage, stylish shower rooms and a storage cupboard in each property. The apartments are currently experiencing high occupancy all year round and it is likely a new owner could continue to operate as is and look to improve the current sale roll & operations of the asset. NET income of c. £125,000 in the 2022/23 financial year reflecting a NET investment yield of c. 6.25% on its current short let operation. 2022/23 building income was £282,786 per annum (net of VAT). With regards to current year performance, the gross income for the period 1st January to 31st May 2023 is up 11% on the same period the previous year. Depending on how the asset is managed in the future, there is potential to develop the NET yield further. Located in the heart of Glasgow City Centre, an area of Glasgow which has benefitted from significant redevelopment in the last few decades with both commercial developments and exclusive residential buildings. This location offers a wonderful central. Still available at ListedBuy!
Posted:
June 5 2023 on ListedBuy
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More About this Listing: Nelson Mandela Place, Glasgow, G2 Property for sale - £
Nelson Mandela Place, Glasgow, G2 Property for sale - £ is a 2016 Vehicle for Sale in Glasgow GLG. Find other listings by searching for 2016 Cars and Vehicles in Glasgow on Oodle Classifieds.
Nelson Mandela Place, Glasgow, G2 Property for sale - £ is a 2016 Vehicle for Sale in Glasgow GLG. Find other listings by searching for 2016 Cars and Vehicles in Glasgow on Oodle Classifieds.