Property description
*NEWLY REDUCED!* A RARE OPPORTUNITY TO PURCHASE A PORTFOLIO OF EIGHT LEASEHOLD FLATS CONVENIENTLY LOCATED IN THE TOWN CENTRE.
The portfolio is currently generating an annual rental income of £41,520 (gross) providing a 5.9% yield.
The units are all under their own individual leaseholds. Approx £150 per unit per year on the ground rent.
1 x two bed apartment
1 x studio apartment
6 - 1 bed apartment
Ground floor studio flat with electric heating, living area, kitchen and shower room. Currently let at £305.00 pcm.
Ground floor one bedroom flat with kitchen/lounge, bathroom and gas central heating. Currently let at £425.00 pcm.
One bedroom first floor flat with entrance hall, kitchen, lounge, bathroom and gas central heating. Currently let at £500.00 pcm.
Two bedroom first floor flat with entrance hall, kitchen, bathroom, lounge and gas central heating. Currently let at £505.00 pcm.
One bedroom second floor flat with lounge, kitchen, bathroom and gas central heating. Currently let at £425.00 pcm.
One bedroom second floor flat with lounge, bathroom, kitchen and gas central heating. Currently let at £415.00 pcm.
One bedroom third floor flat with kitchen/lounge, bathroom and gas central heating. Currently let at £435.00 pcm.
One bedroom third floor flat with lounge/kitchen and bathroom. Currently let at £450.00 pcm.
Freeholder - Groundrents UK Ltd
Length of lease - 125 years from 4th March 2008
Ground rent - £1325.00 per annum
IP1 1EY
These particulars do not form part of a contract to purchase. Their contents should be confirmed by the vendors solicitor prior to any exchange of contracts. We have not been able to test the appliances and recommend that prospective purchasers arrange for the checks to be carried out before entering into any commitment.
Property Features :
- Portfolio for sale
- Eight town centre flats
- Tenants in situ
- Annual rental income of £39,420
- Gross yield of 4.6%