Kirkcaldy town centre
Property Details
Investment Type – Portfolio Purchase x 10 flats for Serviced Accommodation
Property Description – Development of the former Abbotshall linen mill building in Kirkcaldy town centre into 10 new luxury one and two bedroom apartments. The three storey building, which dates back to the 1840s, was a thriving mill until the company relocated in 1898 when the street level was turned into the Olympia Arcade which still stands today.
Location – Kirkcaldy, Fife
Key Financials
| Portfolio Market Value | £1,260,000 |
| Purchase Price | £780,000 |
| Below Market Value | £480,000 (38%) |
| Acquisition Cost | £64,500 |
| Fit Out Cost | £50,000 |
| Total Investment | £114,500 |
| Rental per annum | £367,354 |
| Gross Rental Yield | 47% |
| Gross Profit Per Month | £14,388 |
| Investment Return Period | 6 months |
| Capital Growth - 5 year forecast | £190,650 (£38,130) |
