12 bed block of flats for sale

7 West Princes Street, Rothesay, Argyll And Bute PA20

For sale by online auction 22nd August 2024 at 9.00am. Portfolio of 12 apartments in the popular tourist town of Rothesay. Good demand for private rental or potential short term lets (Subject to licence) Potential income up to £226,000 pa which represents an amazing yield of circa 48%.

Online Property Auctions Scotland are delighted to present this attractive investment opportunity consisting of 12 residential apartments.
Offered with full vacant possession which gives any new owners various options.

The apartments would attract a rental income of circa £425 per month within the private rental market. This would equate to circa £57,600 pa giving a yield of around 12%.

The apartments could potentially be operated as short term lets (subject to local licencing) This could bring an incredible return of around £230,000 based on 50-60% occupancy. A resultant yield of around 48% could be achieved.
Location

Situated on the Isle of Bute, in the Firth of Clyde off the West Coast of Scotland. Bute is an area of outstanding natural beauty and is the most accessible of all the Scottish Islands. There are two regular ferry services to the island from Wemyss Bay, near to Glasgow and from Colintraive on the Argyll peninsula. Bute can be an activity based experience if you desire. Diving, walking, swimming, cycling, fishing, shooting, sailing and golf are amongst the activities on offer. It has also seen an explosion of quirky eateries, including an American diner with live entertainment, an authentic Italian, a French Moroccan bistro as well as traditional Inns offering Scottish fare.

The island has also seen a wealth of new niche businesses in recent years. Bute hosts many festivals through out the year such as the highland games, jazz festival, Bute Noir book festival, lgbt pride march, classic car rallies and Bute Song to name a few. Bute has seen a surge in recent years of folks looking for a lifestyle change by relocating to the Island and travelling to the mainland for work. Excellent broadband access also means working from home on the Island is possible.

Ideally positioned for easy access to the seafront and a short walk to the ferry terminal. Situated on the town's busiest street, the flat is close by to many amenities such as shops, restaurants and more. The property has the potential to be used as a holiday let as the 'staycation' option has become increasingly popular.

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