Offers are invited for the portfolio which comprises 24 separate ex-local authority dwellings across Livingston in West Lothian. Offers for smaller lots will also be considered and there is the possibility of a further seven properties coming to market in the near future.
The investment, which was owned by a local letting agency, is currently 80% occupied, producing an income of £120,180 per annum. The estimated rental income for the fully let portfolio is £151,380 per annum. Full details on the residential investment portfolio can be found at http://www.ryden.co.uk/
Tim Bunker, partner at Ryden said:
“The occupied properties are let on short term assured tenancies with many of the tenants having been resident for two years or more. With market conditions creating difficulty for first time buyers to get on the property ladder, an increased number of people are staying in the private rented sector for longer. This is creating a higher demand for rented accommodation with the potential to increase rents. This portfolio provides the opportunity for an investor to acquire an income-producing asset in the lucrative residential investment market.”
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Notes to Editors
Ryden is an independent commercial property firm operating a full-service practice. Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.
The firm is headed by Fiona Morton, Managing Partner and has around 140 people, including 29 partners and 23 associates.
Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.
• EGi’s Most Active Agent in Scotland 2010
• EGi’s Most Active Industrial & Distribution Agent in Scotland 2010
• EGi’s Most Active Office Agent in Scotland 2010
• Property Week’s Industrial Agency Team of the Year (Scotland) 2009
For more information see http://www.ryden.co.uk
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Ryden is the largest independent commercial property consultancy in Scotland and the North of England. We have 33 Partners and over 140 staff across six offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.