Summary - The Courtyard, Harrington Close, Bishop's Stortford, CM23 CM23 5FR
25 bed 1 bath Block of Apartments
Fully-let modern courtyard block near Bishop's Stortford station with immediate income..
- Fully-let block of 24 apartments, completed 2021
- Freehold sale with 24 separate long leasehold titles
- Gross income c. £347,400 pa; net income c. £305,712 pa
- 10,520 sq ft NSA across 23 one-beds and one two-bed
- Gated site with 22 parking spaces for 24 units
- 0.3 miles to Bishop's Stortford rail station (commuter location)
- Very slow broadband speeds; limited communal outdoor space
- Asset management upside through reversion and selective upgrades
A purpose-built, fully-let block of 24 modern apartments in a gated courtyard, completed in 2021 and arranged over three storeys. The freehold is offered with 24 separate long leasehold titles (250-year leases, 248 years unexpired), creating a stable, institutional-style income stream with current gross rent c. £347,400 pa and net rental income c. £305,712 pa. The asset sits 0.3 miles from Bishop’s Stortford rail station, providing strong commuter demand and tenant retention prospects.
The development totals approximately 10,520 sq ft NSA across 23 one-bed flats and one two-bed flat, with 22 on-site gated parking spaces and modest planted borders. External condition appears well maintained and the recent construction date minimises near-term capital expenditure. There is clear asset-management potential for rental reversion, service-charge review, and selective internal upgrading to drive further yield enhancement.
Practical considerations are straightforward: broadband is very slow on site and there is limited communal private outdoor space — the layout is a parking forecourt rather than private gardens. Parking provision is 22 spaces for 24 units. Buyers should review lease details, service charge arrangements, and unit-level tenancies. VAT, Stamp Duty and professional fees are not included and should be factored into purchase costs.
This opportunity suits a buyer seeking a turn-key, modern multi-unit residential income in a very affluent market with strong transport links. It offers predictable immediate cashflow with defined scope for active asset management, but limited scope for adding private outdoor amenity or increasing parking provision without planning consent.
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