The Vicarage — Darwen, Lancashire, BB3

Overview

A substantial eight-bedroom property in Darwen, Lancashire, let at £2,500 per month, £30,000 per annum, to the registered operator of a children’s home on a long lease. That is 6.0% gross at the £500,000 guide, with the income anchored to a specialist operator rather than the local lettings market. Lease details on request.

Investment highlights

• Let to the registered operator of a children’s home on a long lease, £30,000 per annum passing
• 6.0% gross at the £500,000 guide price
• Operator-let children’s home stock rarely reaches the open market
• As a registered children’s home, the purchase may attract non-residential SDLT treatment in its own right. Buyers should confirm the position with their solicitor
• Darwen sits in the M65 corridor, with Blackburn, Bolton and Preston all commutable

The income

The property is let whole to the operator, not room by room, so the landlord relationship is with one specialist covenant. Lease term, review pattern and covenant detail are available on request.

The numbers

Guide price	£500,000
Passing rent	£30,000 per annum, £2,500 per month
Gross yield at guide	6.0%
Occupier	The registered operator of a children’s home, long lease, details on request
SDLT	Registered children’s homes can attract non-residential treatment. Confirm with your solicitor