Aqua Crown Partnership LLP 2
The second of our Aqua LLP’s, we purchased this property in Wimborne in February 2007 at a price of £845,000. Crown Court is in the Square right in the centre of Wimborne and close to the proposed new Waitrose development.
Purchased on a 999 year lease and part let to Costa Coffee (part of Whitbread Plc) on a new 10 year lease, the small remaining unit is let to a local established jeweller on the remainder of a 9 year lease, the total income is £48,500 per annum (£40,000 from Costa).
We expect this partnership to perform well in the future with strong rental and capital growth expected.
A loan of £530,000 with an interest rate protection product is in place.
The mortgage has reduced under the repayment terms. More importantly, an investor that put in £50,000 into the syndicate will receive an annual income of £ 5,700 upon mortgage repayment, estimated to be in 12 years time. This assumes no rent increases.
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