15 bedroom block of apartments for sale

Investment Opportunity – 16 & 18 Rowena Street

An exceptional investment opportunity comprising two adjoining semi-detached properties, Numbers 16 and 18 Rowena Street, which together form one substantial detached building. The property has been professionally converted into 15 individual, self-contained units, offering strong and reliable income potential.

The accommodation is arranged as follows:

• Number 18 has 7 self-contained units

• Number 16 has 8 self-contained units

The majority of the units are studio-style apartments, where the kitchen, living and sleeping areas are combined into one open-plan room, each benefiting from a separate private bathroom. Some units are larger than others, providing a mix of accommodation sizes that appeals to a broad tenant base.

Each unit benefits from its own individual consumer unit and separate electricity supply, allowing for straightforward management and billing. The property is fully electric, with no gas supply, helping to reduce ongoing maintenance considerations.

The property offers an impressive overall footprint. Number 16 and Number 18 each provide approximately 2,500 sq ft of internal living space, creating a substantial combined accommodation across the building, over 5,000 sq ft in total. In addition, both properties benefit from their own basement levels, each measuring around 650 sq ft, offering further space with potential for storage or alternative uses (subject to consents).

With a conservative rental income of approximately £400 per unit per month, the property offers a potential gross annual income of around £70,000p.a., making this a highly attractive proposition for investors seeking a strong, income-producing “cash cow”.

The property is to be sold via auction, presenting an excellent opportunity to acquire a high-yielding asset at a very competitive price point.

Viewing is highly recommended, as not all internal units are shown in the available marketing materials. Early inspection is advised to fully appreciate the scale, layout, and income potential of this impressive property.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.