A portfolio of PRS properties located across East Anglia

avisonyoung.co.uk/15155

Conger Portfolio

Location Property Tenure Units Current Annual

Rent Occupancy No. ERV

Lowestoft William Tubby House Freehold 44 £240,660 98% 1 £252,000

Lowestoft Crown Meadow Court Freehold 23 £113,340 96% 2 £124,800

Lowestoft Herivan Close Freehold 18 £108,360 100% 3 £115,860

Lowestoft Herivan Gardens Freehold 20 £121,440 100% 4 £133,080

Lowestoft Stafford Court Freehold 12 £74,760 100% 5 £78,600

Lowestoft Wensum Gardens Freehold 18 £110,340 100% 6 £113,940

Great Yarmouth Wensum Court Freehold 10 £63,816 90% 7 £70,260

Total 145 £832,716 98% £888,540

Conger Portfolio

Diverse portfolio of 145 units

located in Lowestoft and

Great Yarmouth

The portfolio benefits from a

high occupancy level of

98%

143 residential properties

and 2 commercial units Current annual rent roll of

£832,716

The properties are all held

freehold Excellent asset

management opportunities Properties are let on ASTs Lowestoft properties are age

restricted

Portfolio Summary

All assets are located in Lowestoft, Suffolk with the exception

of Wensum Court which is located in Great Yarmouth.

William Tubby House is the largest asset in the portfolio and

generates 29% of the total revenue.

Revenue by asset Unit mix

The portfolio largely consists of one and two bedroom flats.

These are primarily located in unbroken blocks in William Tubby

House, Crown Meadow Court and Wensum Court.

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William Tubby House, Swonnell’s Walk NR32 3PZ (Retirement)

Crown Meadow Court, Love Road NR32 2PG (Retirement)

William Tubby House is located in Oulton Broad, a suburb

of Lowestoft, approximately 3 miles (5km) to the west of

the town centre. Lowestoft is a coastal town in Suffolk

situated 11 miles (18 km) south of Great Yarmouth and

27.5 miles (44 km) to the south east of Norwich

The surrounding area is predominantly residential with

neighbourhood shops, hotels and pubs/restaurants.

Oulton Broad Railway Station is 0.5 miles (0.8 km) to the

east

William Tubby House lies north of the Broad and is situated

on Swonnell’s Walk

William Tubby House is a detached, five storey building

comprising 44 apartments (42 x 1 bed, 1 x 2 bed, 1 x 3

bed) and one guest suite

Residents benefit from Emergency Warden Facilities,

car parking facilities and a communal residents lounge

It was converted into residential accommodation from

an old malthouse approximately 20 years ago

Crown Meadow Court is located in East Lowestoft 0.6

miles (1 km) from the town centre

It is situated off Love Road in an established residential

area comprising a mix of older terraced housing and

bungalows

Local amenities include pubs, and restaurants, a florist

and a Tesco Metro situated 0.5 miles (0.8km) east

Crown Meadow Court comprises 23 apartments (21 x 1

bed, 2 x 2 bed) arranged over three interlinked blocks

Facilities include car parking, emergency warden

control and a security entry system

Residents benefit from a communal courtyard

Location Description

Location Description

Herivan Close, Herivan Gardens and Stafford Court, Oulton NR32 3HZ (Retirement)

Wensum Gardens, Lowestoft NR32 4UT (Retirement)

Herivan Close, Herivan Gardens and Stafford Close are

interlinked developments of one and two bedroom

flats and bungalows

They are situated in the suburb of Outlon approximately

3 miles (5 km) to the west of the town centre

They are situated off Gorleston Road. The area is

predominately residential and facilities include

neighbourhood shops and a community centre

Herivan Close, Herivan Gardens and Stafford Close

comprises 50 properties (4 x 1 bed flats, 36 x 1 bed

bungalows and 10 x 2 bed bungalows)

The properties are located on well kept, communal

grounds. They are all under single management with

one shared community room

They are situated in a quiet cul-de-sac location and

benefit from parking spaces

Wensum Gardens is situated approximately 1.5 miles

(2.4 km) to the north of Lowestoft town centre

The surrounding area is predominantly residential and in

the nearby vicinity is a church, a park and a

convenience store

Wensum Court is situated off Hollingsworth Road

Wensum Gardens comprises 27 properties (2 x 2 bed

bungalows, 16 x 2 bed flats) arranged around a central,

communal garden. The freehold interest in 9 of the

properties has been purchased by a housing association

The properties benefit from 20 car parking spaces

The flats are divided into various blocks, each with a

circulation area with stairs providing access to the first

floor

Location Description

Location Description

Wensum Court, 35 Baker Street, Great Yarmouth NR31 6QT

Wensum Court is located in Gorleston-On-Sea, Great

Yarmouth. This is a town situated approximately two

miles to the south of Great Yarmouth and 10 miles

(16km) north of Lowestoft

Gorleston-On-Sea is located 25 miles (40km) east of

Norwich

Wensum Court is situated on Baker Street,

approximately 0.1 miles (0.16km) from Gorleston town

centre

Wensum Court is a mixed use scheme comprising two

retail units on the ground floor and 8 flats (6 x 1 bed, 2 x

2 bed) over the two upper floors

Residents of the flats benefit from a secure entry system

and access to parking spaces

The tenants of the commercial units are currently a

financial services advisory company and an optician

Tenancies / Rental Income

A full breakdown of the rental income is provided in the

schedule of accommodation which is available in the

dataroom.

Each unit is let on individual assured shorthold tenancy

agreements.

Additional Information

Additional information is available within the dataroom:

congerportfolio.avisonyoung.co.uk

Location Description

Method of Sale

The properties are available as an unbroken

portfolio or as individual blocks.

Viewing

Strictly by appointment only.

The properties will be subject to block viewing

arrangements and will not be available for

viewing purposes outside these times.

To arrange a viewing please contact Imogen

Prifti.

Avison Young hereby gives notice that the information provided (either for itself, for any joint agents or for

the vendors lessors of this property whose agent Avison Young is in this brochure is provided on the

following conditions:

(1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or

lessees and do not constitute an offer or contract, or part of an offer or contract.

(2) All descriptions, dimensions and references to this property’s condition and any necessary permission

for use and occupation, and any other relevant details, are given in good faith and are believed to

be correct. However, any intending purchasers or tenants should not rely on them as statements or

representations of fact but satisfy themselves of their correctness by inspection or otherwise.

(3) No person in the employment of Avison Young, or any joint agents, has any authority to make or

give any representation or warranty whatsoever in relation to the property or properties in this

brochure.

(4) All prices quoted are exclusive of VAT.

(5) Avison Young shall have no liability whatsoever in relation to any documents contained within the

brochure or any elements of the brochure which were prepared solely by third parties, and not

by Avison Young.

For further information

please contact:

Avison Young

65 Gresham Street, London EC2V 7NQ

Avison Young is the trading name of GVA Grimley Limited. © 2019 GVA Grimley Limited

July 2019

Avison Young

65 Gresham Street

EC2V 7NQ

Contacts

Francis Sutherland

Tel: +44 (0)20 7911 2521

Mob: +44 (0)7836 511 354

Email: francis.sutherland@avisonyoung.com

Richard Stonehouse

Tel: +44 (0)20 7911 2824

Mob: +44 (0)7799 620 823

Email: richard.stonehouse@avisonyoung.com

Imogen Prifti

Tel: +44 (0)20 7911 2784

Mob: +44 (0)7557 487 301

Email: imogen.prifti@avisonyoung.com