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Hearsall Lane, Coventry

Asking Price Of £3,500,000
Icon of a reception room
Icon of a bedroom 3
Icon of a bathroom 1
  • Unique Opportunity - FREEHOLD
  • Turnkey Investment
  • *TAKE THE 3D VIRTUAL TOUR*
  • Circa 10 Car Parking Spaces
  • Prominent Earlsdon Location
  • Circa 9-10% Gross Yield
  • Fantastic Short or Long Term Let Prospects
  • Modern Build
  • Central Heating Throughout
  • Available Collectively or as Individual Units

Property Details

GENERAL OVERVIEW ***FREEHOLD INVESTMENT - AVAILIABLE AS INDIVIDUAL UNITS OR A COLLECTIVE WHOLE - Coventry University, Warwick University, Earlsdon High Street & Coventry City Centre in close proximity** Wells Terrace is a modern purpose-built student, short/long term let development consisting of 8 individual properties. To the rear of Wells Terrace there is parking for approximately 10 vehicles. Bicycle parking is also available onsite. Each property has front and rear door access, bus stops on both sides of Hearsall Lane directly outside and are found in very good decorative order despite being rented out on a near continuous basis since they were built - primarily to Warwick University.

Numbers 1 and 3 offer a different layout comprising of a combined lounge/dining kitchen and nine study bedrooms, with access to shared bathrooms facilities.

Each bedroom is furnished with either a double (135cm X 190cm) or three quarter (120cm X 190cm) size bed.

Wells Terrace comprises 8 cluster units arranged across 6 x 8 bed and 2 x 9 bed blocks. Each unit has a combined kitchen/dining area and 3 shower rooms.

Facilities are heated by way of gas central heating and windows are triple glazed.

Wells Terrace currently has an agreement in place with two years remaining with Warwick University Accommodation Services. Wells Court has a contract in place until the end of this academic year. There will not be a renewal of this agreement with Warwick University Accommodation Services and therefore, there will be potential for in-house management and an increase in the net rental income.

Units 2 and 4-8 are all almost identical in layout and sizing consisting of the below. Each property is fully carpeted, central heated and triple glazed, with front and rear door access, and small rear courtyard area:

General Unit 2 and 4-8 layout:

Front and rear door access
Hallway
Lounge - 4.6m max X 4.3m max
Kitchen/Diner - 4.6m X 4.5m
3X Shower Rooms typical size 2.4m X 1.3m
8 Double Bedrooms circa 4.5m x 2.2m

Unit 1 is an end terrace, with typical dimensions similar to the above but with an additional bedroom and with more functional disability access and usage.

Unit 3 is an apartment, split across two levels and comprising of 9 bedrooms in total, two shower rooms and separate WC - with car access underneath.

These properties are fully furnished, in good decorative order and with established relationships with Warwick University.

DISCLAIMER Intending purchasers will be asked to produce identification documentation for Anti Money Laundering Regulations at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given.

All measurements have been taken as a guide to prospective buyers only and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view.

All fixtures and fittings ultimately are to be agreed with the seller via the fixtures and fittings form which will then form part of a legal contact through the conveyances and as the marketing estate agent none of our particulars or conversations are legally binding, only the legal solicitor paperwork.

Up Estates has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Floorplan

We have floorplans available for this property. Press on each to view full-screen.

Map Location

A photo of Sales Negotiator, Harry Barnes

How can we help you?

To discuss this property or arrange a viewing please call Up Estates and speak to Harry Barnes.

Disclaimer

Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

These particulars do not constitute part or all of an offer or contract.

All measurements have been taken as a guide to prospective buyers only, and are not precise.

While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

Up Estates has not tested any apparatus, equipment, fixtures, fittings or services, so cannot verify they are in working order or fit for their purpose

Up Estates has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.