A Victorian building occupying a corner position which has been converted into three one bedroom flats each let on assumed shorthold tenancies.
The building would benefit from internal refurbishment works which could enhance rental values. Copy tenancy agreements are available from the agent’s office upon request.
Location
Located on the corner of Redhill Rd and Lilley Lane the property occupies a corner plot and was believed to once have been a shop.
Accommodation
Ground Floor Flat
Flat 1 (left top of stairs)
Flat 2 (right top of stairs)
Terms
Tenancies:
Ground Floor - £600 pcm
Flat 1 (left top of stairs) - £550 pcm
Flat 2 (right top of stairs) - £525 pcm
Total Monthly rent £1,675 pcm
Total annual rent £20,100 per annum
Price: £270,000
VAT: Value Added Tax at the prevailing rate is applicable on all costs shown in these particulars apart from business rates.
EPC: The Energy Performance Rating of the property is = D.
A full copy of this report is available from the agent’s office upon request.
Specification
- Freehold Investment
- Three One Bedroom Flats in One Block
- Let on AST's
- Income Producing £20,100 pa
- Gross Yield of 7.44%
- Scope for Refurbishment & Rental Uplift