CLOCK TOWER APARTMENTS, MANSFIELD

WHOLE-BLOCK RESIDENTIAL INVESTMENT OPPORTUNITY – 50 APARTMENTS

An opportunity to acquire a proposed 50-apartment residential scheme at Clock Tower Apartments within the wider Rock Valley development in Mansfield.

The proposed scheme comprises 40 one-bedroom and 10 two-bedroom self-contained apartments, with the opportunity for an investor to engage during the planning and design stage through a forward-purchase arrangement, or acquire the completed development as a fully furnished turnkey residential investment.

Indicative whole-block value: c. £8,500,000

Indicative gross annual rental income: c. £566,400 per annum

Indicative gross yield: c. 6.7%

Freehold

Target completion: January 2029 – subject to planning and construction programme

KEY INVESTMENT HIGHLIGHTS

Entire proposed 50-apartment residential development
40 × one-bedroom apartments
10 × two-bedroom apartments
Freehold
Indicative value of approximately £170,000 per apartment
Estimated furnished ERV of approximately £566,400 per annum
Indicative gross yield of approximately 6.7%
Forward-purchase opportunity
Furnished turnkey acquisition option
Target completion January 2029
Opportunity to influence specification prior to completion
Suitable for PRS, portfolio landlords, institutional residential investors and housing providers
Single-site ownership offering management and operational efficiencies
Part of the wider Rock Valley residential development

INDICATIVE RENTAL APPRAISAL

The current working rental appraisal assumes furnished accommodation at January 2029 completion.

One-Bedroom Apartments
40 apartments

Estimated rent: c. £905 pcm per apartment

Estimated combined monthly rent: c. £36,200 pcm

Estimated annual rent: c. £434,400 per annum

Two-Bedroom Apartments
10 apartments

Estimated rent: c. £1,100 pcm per apartment

Estimated combined monthly rent: c. £11,000 pcm

Estimated annual rent: c. £132,000 per annum

Combined Scheme
Estimated gross monthly rental income: c. £47,200

Estimated gross annual rental income: c. £566,400

Against an indicative acquisition price of £8,500,000, this represents an indicative gross yield of approximately 6.7%.

Allowing for an indicative 20% operating cost assumption produces estimated net income before finance and taxation of approximately £453,120 per annum, equivalent to an indicative net yield of approximately 5.3%.

All rental and yield figures are indicative working assumptions only and should not be relied upon as a formal valuation.

PURCHASE STRUCTURE

The seller is open to discussions with appropriately qualified purchasers regarding the preferred acquisition structure.

Options may include:

Forward purchase during the planning and design process
Completed furnished turnkey acquisition
Potential forward-funding structure for investors wishing to become involved earlier in the development programme
The structure provides an incoming purchaser with an opportunity to agree the final specification, unit mix and operational requirements ahead of completion.

INVESTMENT RATIONAL

Clock Tower Apartments provides the opportunity to acquire a substantial residential portfolio within a single freehold development, rather than assembling individual investment properties over time.

Whole-block ownership should provide efficiencies across lettings, management, maintenance and ongoing operation, while the mixture of one and two-bedroom apartments provides diversification across the residential tenant market.

Furnished turnkey delivery is intended to support a stronger rental offering at completion and provide an incoming investor with a development capable of being mobilised for occupation following practical completion.

The development may suit investors seeking to:

Hold the completed scheme as a long-term PRS investment
Build or expand an existing residential portfolio
Operate the development through a professional management platform
Explore affordable or managed housing structures
Secure a substantial residential development ahead of completion

FURTHER INFORMATION

Additional information can be made available to suitably qualified interested parties, including:

Proposed floorplans and apartment schedule
Planning and design information
Detailed specification
Furniture package
Construction programme
Warranty information
EPC strategy
Parking and access information
Rental comparables and supporting appraisal
Service charge and management assumptions
Development cost information where appropriate

All figures, layouts, rents, yields, timescales and specifications are indicative and remain subject to planning, final design, valuation, legal due diligence and construction programme.