14a Baltic Street, Montrose

Overview

Two beds solid construction

A two-bedroom in a popular seaside holiday destination with good transport links - ideal for a number of exits.

Why this opportunity was selected

Opportunity & location

The property, under corporate ownership to Scotmid had been on the market for some time. We acquired conditional pre-approval from a trusted social housing provider and offered a speedy exit via cash sale in return for a generous discount.

In fact, the conveyancing process turned out to be less than simple - but with the help of a team of good solicitors we got there.

Original condition

Vacant and in need of modernisation

The property was vacant at the point of acquisition, with an outdated kitchen and bathroom, older windows, faded decor and an EPC D.

Refurbishment and improvement work

Modernised to social housing standard

A heating upgrade was neccessary to bring it to standards, compltely new kitchen, bathroom overhaul, safety certification throughout and a complete re-paint.

Social housing use & occupancy

Let to a regional housing association

The property is let to a regional housing association on a long-term management agreement, supporting family accommodation in the local area.

Investment timeline

Key milestones

Local area information

Montrose, Angus

The property is located in Montrose, a picturesque coastal town and holiday destination with a good range of schools, shops, healthcare facilities and local services. The town has direct rail connections towards Aberdeen and Dundee and lies on the A92, making it suitable for families and commuters. Montrose forms part of the Angus Council area, where the council and registered housing providers continue to support the provision of affordable and social-rented homes.

Area map