King Charles House
Pontefract - Self contained apartments for the rental market
A development to convert a town centre of office building into self-contained apartments
King Charles House is permitted development to convert town centre of office building into 62 self-contained apartments for the rental market
Pontefract is a historic market town in West Yorkshire, England, near the A1 (or Great North Road) and the M62 motorway. Historically part of the West Riding of Yorkshire, it is one of the five towns in the metropolitan borough of the City of Wakefield and has a population of 28,250, increasing to 30,881 at the 2011 Census.
Pontefract’s deep, sandy soil makes it one of the few British places in which liquorice can successfully be grown. The town has a liquorice-sweet industry; and the famous Pontefract Cakes are produced, though the liquorice plant itself is no longer grown there.
The town’s two liquorice factories are owned by Haribo and Tangerine respectively. Haribo have added further jobs to the local economy with a new flagship office & factory building located just off the M62.
The building is now fully let to private tenants.
- 9 Month conversion
- 62 One and two bed apartments
- Apartments let at an average of £125.00 per week inclusive of all bills
- 100% let within 6 weeks
- Purchase Price
- Development Costs (62 x £34k)
- Total Cost
- Rental Income (62 x 150 x 52)
- Valuation based on 8% Yield