Block 2, Braeburn Heights, St. Marys Road, Greenhithe, Kent, DA9

An exciting investment opportunity to purchase Block 2, Braeburn Heights, comprising 23 new private flats (19 x 2 bed and 4 x 3 bed) in a part 4, part 5 storey brick building. There are 23 designated parking spaces of which 10 spaces are under the building at ground floor. Construction of the block was completed 12 months ago and Acorn's Built to Rent Division fully let the 23 flats to private tenants and are managing the block.

The development is producing a rental income of £464,040pa which based on the guide price of £6,350,000 reflects a 7.3% gross yield. The break up GDV (not factoring in Help to Buy) is c.£7,330,000.

The development is well-located between Bluewater, Ebbsfleet International Station and Dartford with good access onto the M25 and A2.

The overall Braeburn development comprises of 3 blocks of 76 flats with 76 parking spaces and 14 communal visitor/van spaces. Block 1 comprising 24 shared ownership flats has been sold to West Kent Housing under an S106 Agreement. Block 2 (the development to be sold), comprises 23 flats fully let to private tenants. Block 3 comprising 29 flats previously sold by Acorn New Homes to private individual purchasers.

The contractor was developer is