Spare £1.7 million? Entire Telford cul-de-sac is up for sale
It is not every day that an entire housing estate is put up for sale, but investors with £1.7 million to spare now have the chance to become owners of their very own cul-de-sac.
Colliery Mews, in Heath Hill, Dawley, has been placed on the market in its entirety. The site is made up of ten homes, with four three-bedroom semi-detached properties, and six three-bedroom detached houses.
Estate agents Mannleys said the site offers a great investment opportunity for the right person – but those interested will have to dig deep with an asking price of more than £1.5million.
The sellers are looking for a minimum of £1.7million for the site, which is just a short walk away from Dawley High Street and The Telford Langley School.
Investors looking for a ready-made development can expect around 30 bedrooms and as many as 20 bathrooms for their money. The homes are also within driving distance of Telford Shopping Centre and the M54.
The homes are all already fully let and estate agents Mannleys said there is an expected annual income of £97,000 from the properties.
A spokeswoman for the company said that developers quite frequently sell off properties in bulk and that the sale offers a great opportunity for investors.
She said: "There is just the ten properties in the cul-de-sac and the portfolio combines three different house types. There are four three-bedroom semi-detached houses and six three-bedroom detached houses of two different styles.
"This is an investment opportunity on 10 recently built houses all let out on shorthold tenancy agreements. They're all fully let, bringing in a rental income of £97,000 per annum and giving a yield of approximately 5.71 per cent.
"The houses are located close to local amenities including good motorway access and are close to the Southwater development.
"All of the properties have been finished with excellent high quality fittings and have contemporary modern interiors."
There has already been interest from investors on the development, and those interested are recommended to contact the estate agents as soon as possible.
For more details contact Mannleys on 01952 245064 or visit mannleysproperty.co.uk