:
UK: Blakeridge Mill Village, a 284-unit BTR scheme in Batley, West Yorkshire, has been placed on the market with a guide price of £35 million-plus.
The development currently brings in annual earnings of £3 million, and is being marketed by Lambert Smith Hampton (LSH) on behalf of a local development firm, which also manages the scheme.
Situated seven miles south-west of Leeds city centre, the development includes 141 one-bedroom apartments and 143 two-bedroom apartments, 44 of which are duplexes. Amenities at the 115,000 square foot scheme include a gym and pool.
LSH has been instructed to invite offers upward of £35 million. A sale at that price would reflect a gross yield of 8.8 per cent.
Elle Gray, director – living & capital markets at LSH, described Blakeridge Mill Village as “a rare stabilised BTR asset that has consistently delivered, with 98 per cent occupancy, strong tenant retention, and circa 30 per cent rental growth over the last six years”.
Highlights:
- Blakeridge Mill Village, a 284-unit BTR scheme in Batley, West Yorkshire, has been placed on the market with a guide price of £35 million-plus
- The development currently brings in annual earnings of £3 million, and is being marketed by Lambert Smith Hampton (LSH) on behalf of a local development firm, which also manages the scheme
- The scheme includes 141 one-bedroom apartments and 143 two-bedroom apartments, 44 of which are duplexes
