Beech Holdings has appointed Lambert Smith Hampton to sell its Bee Portfolio in Manchester, seeking offers in excess of £16.75m.
The combined £21.8m GDV portfolio comprises three assets: the 90-home Academy Apartments, 25-home Brookland House and 18-home Duke Street.
The three stabilised build-to-rent assets were rebuilt between 2020 and 2022.
The properties have a total gross income of £1,482,177 pa and a total net income of £1,167,915 pa.
Manchester Apartments, the property manager for the portfolio, has also guaranteed the operational costs for 24 months from the time of purchase.
LSH is marketing the portfolio with a net initial yield of 6.55%, allowing for purchaser’s costs of 6.44%.
Photo © Beech Holdings/Lambert Smith Hampton
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