Portfolio SpotLight

The portfolio is available to purchase as an entire portfolio, in multiple lots or as single properties, each generating a high level of rental income that offers an investor a range of options which could be realised with active management and further investment

Hawick is a prominent Scottish Border’s Town located approximately 50 miles to the south of Edinburgh on the A7 trunk route to Carlisle.

The population of Hawick is approximately 14,500 with a history of cashmere, textile and woollen production and a large agricultural service sector. The town has maintained a core level of employment in its traditional industries although there has been significant contraction over the last 20 years.

The portfolio is distributed across several locations, primarily within the Town Centre, with small clusters in certain streets or within individual blocks. The portfolio comprises a mixture of one, two, three and four bedroomed apartments, mostly within traditional stone built tenemental buildings with communal gardens to the rear with a mixture of owner occupied and private rental units.

As with all commercially managed residential portfolios, the units require regular maintenance and upgrading to ensure rental performance, although generally, the properties are in fair condition with many having been upgraded in the past to include central heating (gas or electric), kitchen units and bathroom suites. All the flats have the required fixed fire and smoke detection systems installed.

Over the last three years, the portfolio has maintained high levels of occupancy, typically 85%.

PROPERTY MANAGEMENT

The portfolio has been built up over a period of 25 years and is externally managed. The Managing Agents, Catford Investments Ltd, are locally based and provide a full service which includes letting agency, rent collection and maintenance supervision. A package
of information and certification for each unit has been complied by the agents and can be made available upon request. Management fees are 10% of rental yield per annum +vat, per property