Property description
20 Bedrooms
NUMBER 34
Communal Entrance
FLAT ONE
Lounge
Kitchen
Utility
Bathroom
FLAT TWO
Bathroom
Lounge/Diner/Kitchen
FLAT THREE
Lounge
Kitchen
Bathroom
FLAT FOUR
Lounge/Diner/Kitchen
Lobby
Bathroom
OUTSIDE
Gardens
Cellar
Parking
NUMBER 36
Communal Entrance
FLAT ONE
Lounge
Kitchen
Bathroom
FLAT TWO
Lounge/Diner
Kitchen
Bathroom
FLAT THREE
Lounge/Diner
Kitchen
Bathroom
FLAT FOUR
Lounge
Kitchen
Shower Room
FLAT FIVE
Shower Room
Lounge/Diner
Kitchen
FLAT SIX
Lounge
Kitchen
Shower Room
OUTSIDE
Garden
Parking
Cellar
NUMBER 38
Communal Entrance
FLAT ONE
Lounge/Diner
Kitchen
Bathroom
FLAT FOUR
Kitchen
Lounge/Diner
Bathroom
FLAT THREE
Lounge
Kitchen
Bathroom
FLAT FIVE
Lounge/Diner
Kitchen
Shower Room
FLAT TWO
Lounge/Diner
Kitchen
Shower Room
FLAT SIX
Lounge/Diner
Kitchen
Shower Room
OUTSIDE
Rear
Workshop
Parking
LARGE BTL RESIDENTIAL BUSINESS FOR SALE
A FANTASTIC INVESTMENT OPPORTUNITY IN GLOUCESTER 3 SEMI DETACHED PROPERTIES CONTAINING 16 UNITS OF 1 AND 2 BEDROOM FLATS GENERATING A GROSS INCOME OF £84.420 PER ANNUM, ALL FULLY MANAGED BY A LOCAL AGENT.
CONIDITION OF THE PROPERTIES:
The individual properties were originally built toward the turn of the 19th century. Walls are of solid brick and the roof has been felted and retiled more recently. There has been extensive re-pointing of brickwork over the past 10 years and walls, where rendered, have been repainted in 2014.
The grounds have been maintained on a regular basis.
The 3 properties were purchased by Lincombe Ltd between 1996 and 2003. Extensive renovations were carried out on each building. A local Charted Architect was employed to draw up plans and advise on build (Converting from HMO's to separate individual flats). Renovations involved the complete interior gutting of each of the properties and renewing/rebuilding to include the following:
- New electric wiring throughout. Also electrical fittings, including incoming consumer units, were upgraded to latest specs.
- New plumbing throughout.
- Re plastered walls.
- Flooring upgrades to include noise deadening and fire safety measures.
- Stud walls and doors to comply with fire regulations.
- New double glazed uPVC windows throughout.
- Installation of Fire Alarm systems and emergency lighting circuits.
- Loft Insulation.
- New kitchen units & new bathrooms.
- Installation of utility meters for each flat (electric/water/gas.) Each of the three buildings also has a metered electricity supply for the Landlord.
-New floor coverings throughout.
All flats are equipped with a cooking appliance, washing machine and fridge. Most of the flats have gas central heating, the others have night storage heating.
SERVICES
To comply with existing regulations and to maintain appropriate high standards of presentation the following measures have been employed,
- Annual Gas Appliance certification Test (latest certificate July 2014)
-Annual Fire Alarm/Emergency Lighting Test (latest certificate July 2014)
- Annual Service of Gas Heating boilers (latest certificate July 2013)
SERVICES
The company currently has a full service and maintenance/repair contract with British Gas covering the 11 gas Combi Boilers. This provides for a rapid (usually within 24 hrs) call-out service.
TENANT PROFILE
The company does not accept new tenants who are without a suitable and proven means of income.
An analysis of \"Tenancy turnover\" since July 2009 shows that the average tenancy period is 3 years and 4 months. During thisperiod there have only been 2 tenancies that have not lasted 2 years.
Occupancy rates average around 97% a figure that could be higher were we not to redecorate between tenancies.
FUTURE PROSPECTS AND LOCATION
The properties are located with in easy walking distance of both the town centre and Gloucester Docks (Cinema, shopping arcade, bars/restaurants, museum, Council offices etc.) This new dock-side development is attracting more business and future development plans will further increase the local employment numbers (and need for local housing).
Weston Road has enjoyed a gradual \"profile improvement\" over the past few years as renovation work has been carried out on many of the old buildings. A new housing development a short distance down the road should set a new yard-stick for rent rates in the immediate locality.
FOR FURTHER DETAILS INCLUDING FLOORPLANS ETC PLEASE CONTACT TAYLORS ESTATE AGENTS ON 01452 307227. A MINIMUM OF ONE WEEKS NOTICE IS NEEDED FOR ANYONE WHO WISHES TO VIEW THE PROPERTY.
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