A private client of Curchod & Co has acquired the investment of 24 recently refurbished flats at Racks Court in Guildford, Surrey for £5,500,000.
Located on Quarry Street in Guildford the three-storey. prime residential block has a mix of studios and one-bedroom units that are fully let on Assured Shorthold Tenancy agreements. The property is fully let and generates a gross income of £407,400 per annum.
The deal reflects a Gross Initial Yield of 7.41%.
Alex Blown of Curchod & Co commented on the acquisition: “We were able to secure this asset for our client at significantly less than the asking price, reflecting a soft yield for prime residential investment property in Guildford”.
The vendor was represented by Savills.
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