Cheffins has launched to the market a major investment portfolio, comprising five mixed residential and commercial properties located across the Eastern region.
‘The Iceni Porfolio’ encompasses a total of 75 residential units and 13 shops, with freehold buildings in March, Wisbech, Downham Market, Thetford and Mildenhall. On offer is 69 flats, two HMOs and a range of retail units with tenants including the likes of Ladbrokes, Norfolk Deaf Association, Wisbech Market and Savers Health & Beauty. The properties on offer include attractive period properties and purpose-built, large-scale buildings such as ‘Church View’ in Wisbech which includes 36 flats and three shops, all offered freehold with a value of circa £3.3 million.
Currently the portfolio is 95 per cent let, producing a gross rent of £617,650 per annum and offers are invited in excess of £7.85m for the portfolio in its entirety. This acquisition reflects an attractive gross yield of 7.87 per cent and is likely to draw interest from both corporate and private investors.
The portfolio is being sold on behalf of a major local property company and expressions of interest are invited for either the entire portfolio or individual buildings.
Philip Woolner, joint managing partner at Cheffins says:
“Investment into the commercial sector from private individuals and smaller property companies has increased throughout 2021, as many look for alternative income streams and to safeguard against future economic fluctuations following the fall out of the Covid-19 pandemic. As stock markets continue to fluctuate and with much uncertainty around inflation growth, those with spare cash in the bank are consistently turning towards bricks and mortar solutions. With this in mind, we forecast The Iceni Portfolio to be of interest to both corporate and private investors, both of which are currently active in the market. At the time of writing, Cheffins currently has over £21,000,000-worth of investment property in the market or under offer, in a range of property types located in the Cambridge and East Anglian Region, and there is a very real opportunity now for investors to reap the rewards of capital and rental growth, as we forecast that this market will continue to grow during 2021 and 2022 as the regional economy bounces back.”
For more information on The Iceni Portfolio, contact Philip Woolner at Cheffins, 01223 271910, Philip.email@example.com, or joint agents, Allsop LLP.