Freehold three-flat block in central Cheltenham, 8.5% gross yield and allocated parking..
Freehold block of three flats, sold with tenants in situ
A rare freehold block in Cheltenham town centre, offered chain-free with three privately accessed flats and allocated parking. The block currently produces a gross rental yield of around 8.5% and is sold with tenants in situ, making it a ready-made income investment for a buy-and-hold investor.
The building has characterful Art Deco features, glass brick windows and double glazing installed post-2002; each apartment offers open-plan living, modern shower rooms and low council tax (Band A). The freehold ownership gives full control over future refurbishments or rent reviews.
Buyers should note material practical considerations: the block is a mid-terrace, pre-1900 solid-brick building with no assumed wall insulation and a flat roof that will need ongoing maintenance. The layout is described as awkward in places and some areas may require updating despite the advertised “excellent condition.”
The location sits within a cosmopolitan, student-heavy neighbourhood close to shops, transport and Cheltenham’s cultural amenities, which supports rental demand but also corresponds with a very high local crime rate. This is a straightforward purchase for an investor prepared to manage a town-centre rental block and address the fabric and security considerations to protect income and capital value.