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Property ID: 211906508
Monthly Income
£3,100
Current Yield
9.1%
Tenancy status
Tenanted
CapitalAppreciation
+4.5%
Exclusive Investment Grade Opportunity

A multi-unit property located in Loughborough with tenants currently situated. They are currently generating steady, rewarding rental returns for the current landlord.


The Windmill Inn, built around 1650, is located in Loughborough's cultural quarter beside All Saints Parish Church. Merrin Court (1-4) consists of former stable buildings from the historic Coaching Inn, with original Tudor footings still visible. The properties are conveniently situated within a five-minute walk of the town centre, bus stops, and easy transport links to the train station and Loughborough University.


→ 1 Merrin Court

• Type: 2/3-bedroom leasehold

• Lease: 91 years remaining, includes a 1/5 freehold share (with four other properties)

• Potential: Opportunity for freehold enfranchisement under new legislation at reduced costs

• Land Registry: Freehold (LT161402), Leasehold (LT252789)

• Size: Approx. 66 sqm

• Tenancy: Let for £625 pcm (bills excluded) on a rolling AST; tenants in place for 14 years with pending rent increase

• Features: Master bedroom forms a flying freehold over the lobby area of 2 Merrin Court; utilities include mains gas, electric, and a wood-burning range


→ 2 Merrin Court

• Type: 1-bedroom property (under same freehold as 3 & 4 Merrin Court)

• Land Registry: LT284854

• Potential: Can be converted into a 2-bed or subdivided into two 1-bed flats to boost rental yield

• Access: Shares a communal lobby (accessible via the Windmill Inn car park or shared courtyard) that forms the lower half of a flying freehold with 1 Merrin Court; main entrance through lobby with a secondary private entrance

• Tenancy: Let for £900 pcm (bills included), with tenancy expiring in August 2025; tenant in situ for over 2.5 years, paying in 6-month installments

• Size: Approx. 60.5 sqm

• Utilities: Mains electric; heating via an Air Source Heat Pump (shared with 3 Merrin Court)


→ 3 Merrin Court

• Type: 1-bedroom property (under same freehold as 2 & 4 Merrin Court)

• Land Registry: LT284854

• Potential: Opportunity to convert into a 2-bed or subdivide into two 1-bed flats at moderate cost

• Access: Shares communal lobby with 2 & 4 Merrin Court; main entrance off the courtyard

• Tenancy: Let for £900 pcm (bills included) on a rolling AST; tenant in situ for 4.5 years (1 year in 4 Merrin Court and 3.5 years in 3 Merrin Court)

• Size: Approx. 70 sqm

• Utilities: Mains electric; heating via an Air Source Heat Pump (shared with 2 Merrin Court)


→ 4 Merrin Court

• Type: Studio property (under same freehold as 2 & 3 Merrin Court)

• Land Registry: LT284854

• Access: Shares communal lobby with 2 & 3 Merrin Court; main entrance off the courtyard

• Tenancy: Let for £675 pcm (bills included); tenant in situ for 3.5 years

• Size: Approx. 19.5 sqm

• Utilities: Mains electric; heating provided by an Air Source Heat Pump (shared with 3 Merrin Court)


Investment details

The properties currently produce an annual gross income of £37,200 which could be increased by the new owner to a market rate of £38,400 with long term tenants currently situated. Considering the purchase price, this will make for a worthwhile addition to an investors property portfolio.


For greater detail on this property's investment potential, please see the Let Property Pack linked below.


If you are interested, please call us.


Let Property is committed to facilitating a smooth transaction process between buyer and seller. To allow for maximum commitment to the sale from both parties, a Buyers Premium will apply in order to secure a property

Cash Purchase
Mortgage
Purchase Price
Assumed purchase price based on home report value
Stamp Duty Tax
Est. Legal Fees
Monthly Running Costs
Calculated Returns
Capital appreciation calculated based on location, property type, and market value. Learn more
Current Rent
Potential Rent
Purchase Costs
Net Rental Income3100/mo
Monthly Capital Appreciation/mo
Total Net Returns/mo
Total ROI
Current Monthly Rent
£3100 pcm
Current Rental Yield
9.1%
Potential Market Value Rent
£3200 pcm
Potential Rental Yield
9.4%
Estimated Monthly Capital Appreciation
£1538
Area Capital Appreciation Rate
+4.5%

Tenancy Checks

Tenancy Agreement

Provided by the seller as verbal and written confirmation and documentation will be provided at Completion once the property has been secured.

Proof of Rental Income

Provided by the seller as verbal and written confirmation and documentation will be provided at Completion once the property has been secured.

Length of Tenancy

Length of Tenancy has been verified by Let Property by reviewing the date from when the provided tenancy documentation began.

Tenant Means of Funding:

Self Funded

Length of Tenancy information has been provided by the seller as verbal and written confirmation.

Property Checks

Property Tenure

Verified as Leasehold with 170 years on lease

Property Tenure documentation has been provided to Let Property and has been Verified.

EICR

EICR documentation has been provided by the seller as verbal and written confirmation of availability and documentation will be provided at Completion once the property has been secured.

Gas Safety

Gas Safety documentation has been provided by the seller as verbal and written confirmation of availability and documentation will be provided at Completion once the property has been secured.

Council Tax Band

Council Tax Band: A

Interactive street-level view of the property location and surrounding area.

Ground Rent
Freehold
Factor Fees/Running Costs
TBC
Factor Name
unknown
Total Estimated Costs
unknown
Floor plans
Floor plan
Offers Over
£410,000
Location
Merrin Court, Loughborough, LE11
Bedrooms
5
Type of property
Portfolio

Additional Benefits

Fully Pre Checked by Let Property
Available First Come, First Serve
Over £1 Billion of UK Investment Property Sold.
Enquire for Detailed Returns Breakdown.
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Yearly Net Profit
Current Yearly Rent
£37,200
Annual Capital
Appreciation
£8,200
Yearly Factor Fee /
Service Charge
TBC
Other Yearly Costs
None
Indicated
Annual Net Returns
£45,400