Rented Commercial Property for Sale in Newark-on-Trent, UK

Residential accommodation: An established 8-bedroom HMO, rented on a room-by-room basis to individual tenants. The HMO generates approximately £58,200 in annual rental income and operates at very high occupancy with limited void periods.
Commercial property: Three ground-floor commercial units, leased to established local businesses. Together, these units generate approximately £42,500 in annual rental income. Tangible Assets: Freehold mixed-use property comprising an 8-bedroom HMO and three commercial units, including all existing fixtures, fittings and furnishings used in operating the HMO, with a total estimated value of approximately £1.1 million.

Intangible/operating assets: The buyer acquires 100% of the shares in the property-owning company, including the existing residential tenancy agreements, commercial leases, established rental income stream, tenant relationships, operating history and relevant property/business records and compliance documentation. The facility is a mixed-use freehold property in central Newark, comprising three ground-floor commercial, together with an 8-bedroom HMO arranged over the upper floors.

The HMO rooms are individually rented to residential tenants, while the three commercial units are occupied under separate long commercial leases. The property currently operates at 100% occupancy. The business is funded through a combination of shareholder equity and two secured mortgage facilities against the underlying properties.

Current outstanding mortgage debt is approximately £770,700, comprising £422,625 under one facility and £348,075 under a second facility.

Total mortgage payments are approximately £44,530 per annum.

The company currently has one beneficial owner/shareholder holding 100% of the business, and the proposed transaction is for the sale of 100% of the shares, including the underlying property assets and associated mortgage liabilities.