Portfolio of funeral offices, England, United Kingdom

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Portfolio of funeral offices, England, United Kingdom

2,016,000 £
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Total area: 2,874 m² Yield: 7.0%
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Features
  • Operating Incomе: 168,401 €
  • Occupancy: 100%
  • Number of parking lots: 24
  • Acquisition tax: 6.3%
  • Broker: 2.0%

Three funeral offices with a long-term lease.

Description

The property consists of three buildings with an area of 554 m², 1,278 m² and 1,042 m².

The first property is a two-story brick building of 1920, transformed into an office since 2001. 

The building includes a reception room, an arrangement room, office accommodation and a fully equipped mortuary. 

There is a parking for 11 cars in the territory of a property.

The second property is a brick building in 1970, completely converted to a funeral office. 

The building includes a reception room, an arrangement room, office accommodation and a fully equipped mortuary.

There is a parking for 10 cars in the territory of a property. 

The third property is a three-story building in 1960, completely converted to a funeral office. 

The building includes a reception room, two rooms for viewing, an arrangement room, office accommodation and a fully equipped mortuary and a storage room. The second floor can also be used for storage. 

There is a parking for 3 cars in the territory of a property. 

Type of ownership: Freehold.

Financial performance

The cost of the property is 2,016,000 £.

The absolute annual income is 150,000 £.

The current yield is 7%.

The projected annual income is 157,248 £.

The projected annual yield is 7.8%.

Tenants

The tenant is the largest funeral services network in the UK, with more than 1,000 offices throughout the country.

The lease agreement is concluded for 15 years.

Transaction costs

Acquisition tax is 6,3%.

The brokerage fee is 2% + 20% VAT (in total 2,4%).

Location

The first property is located in the resort town of North Yorkshire with a population of more than 100 thousand people. The building is located in the center of a shopping area. Developed transport infrastructure connects the property with major cities such as York, Leeds, Manchester and Liverpool. The nearest airport is 100 km away.

The second property is located in the largest city in Cambridgeshire in Central East England. The distance to London is 145 km. There are local and national retailers nearby.

The third property is located in big commercial city in Cornwall with a population of more than 55 thousand people. Distance to Plymouth is 95 km. Railway station is 3 minutes walk away. The airport is 35 km from the property.

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Enquire about this office building
Julia Morozova
Julia Morozova
Senior Investment Consultant
+44 20 3608 1267
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