The property comprises 6 individual flats contained with a 3 storey terraced building of traditional stone construction. The building is rendered externally and surmounted by a pitched and slated roof.
The access is via a centrally positioned entrance, the front elevation leading to a central close with a staircase providing access to first and second floors and a further internal stair leading to the attic flat.
The flats are a mix of studio style accommodation together with one and two bedroom flats.
Location
Cupar is a former market town in North East Fife, having resident population just in excess of 9,000 persons but also serves as a centre for a large rural hinterland. The town contains a mixed range of commercial businesses in the busy town centre with well established industrial users located in business parks and industrial estates on the eastern outskirts of the town.
Cupar lies approximately 11 miles north-east of Glenrothes which is the main administrative and commercial centre for the whole area, while the historic university town of St Andrews lies some 9 miles due east. The cities of Perth and Dundee are within convenient travelling/ commuting distance while the town also benefits from a mainline railway station, together with good road links providing access to the Central Scotland motorway network.
The subjects are located on Newtown in what is considered an established residential area, a short distance to the north of the main commercial shopping thoroughfare and town centre.
Accommodation
Flat 11A (Ground Floor) - Lounge/bedroom, kitchen and shower room - 22 sq m (237 sq ft)
Flat 11B (Ground Floor) - Lounge/bedroom, kitchen and shower room - 22 sq m (237 sq ft)
Flat 11C (First Floor) - Entrance hall, lounge/dining area, kitchen, family bathroom and 2 bedrooms - 55 sq m (593 sq ft)
Flat 11E (Second Floor) - Entrance hall, lounge/bedroom, kitchen and shower room - 21 sq m (226 sq ft)
Flat 11F (Second Floor) - Entrance hall, lounge/bedroom, kitchen and shower room - 21 sq m (226 sq ft)
Flat 11G (Attic Floor) - Lounge, kitchen/dining area, bedroom and shower room - 41 sq m (442 sq ft)
Terms
COUNCIL TAX: Each individual flat has been assessed as band A for Council Tax purposes.
TENANCIES: Each of the flats is let under Private Residential Tenancies and the current combined income is £1,410 per calendar month (£16,920 per annum).
SALE PRICE: Offers in the region of £255,000 are sought in respect of our clients interest.
VAT: All prices quoted are exclusive of VAT if applicable.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) is available upon request.
LEGAL EXPENSE: Each party will be responsible for the bearing the cost of their own legal costs incurred with the transaction.
Specification
- Block of 6 individual flats
- Situated in established residential area
- Current rental income £16,920 per annum
- Initial gross yield of 5.6% with strong rental growth prospects
- Offers in the region of £255,000 are invited