A brick built end terraced property, comprising two deceptively spacious one bedroom flats together with a shared yard area to the rear. The property is fully let with two long standing tenants and provides the buyer with a readymade investment providing an already strong yield with potential to increase over time.
The ground floor flat briefly comprises an entrance hall, lounge, double bedroom, kitchen and bathroom. The first floor flat briefly comprises an entrance hall, lounge, double bedroom, kitchen and bathroom. Both units benefit from double glazed windows, gas fired central heating and a shared yard to the rear. The building also has a shared ground floor utility room with washing machine and tumble dryer.
Each tenant is paying £XXXcm and new 12 month AST’s will be entered into at date of completion. One-bedroom flats in the area are currently being advertised for around £XXXcm demonstrating future rental growth.
Location
The property is located at the end of Cliff Street in Smallthorne, a short walk from Ford Green Road which has numerous shops, pubs and takeaways. The A53, Leek New Road is less than half a mile away and Hanley city centre is less than 2 miles.
Accommodation
2 Cliff Street (Grd Floor)
Lounge - 185 sq ft
Bedroom - 159 sq ft
Kitchen - 110 sq ft
Bathroom - 55 sq ft
Total NIA: 509 sq ft
2a Cliff Street (First Floor)
Lounge - 246 sq ft
Bedroom - 168 sq ft
Kitchen - 98 sq ft
Bathroom - 147 sq ft
Total NIA - 659 sq ft
Communal Utility: 39 sq ft
Terms
SERVICES - All mains’ services are connected and independently metered. Gas fired central heating is installed in both flats. No services have been tested by the agents.
VAT - The sale price is not subject to VAT.
EPC:
2 Cliff Road Band C (70)
2a Cliff Road Band D (64)
COUNCIL TAX:
2 Cliff Street Council Tax: Band A
2a Cliff Street Council Tax: Band A
TENURE - Available freehold, subject to contract and with the benefit of the leases in place at date of completion.
PRICE - £99,950
ANTI MONEY LAUNDERING REGULATIONS - In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.
Specification
- Residential investment premises
- Two x 1 bedroom flats with separate entrances
- Fully let and producing £8,XXXa, providing a 9% gross yield
- Off street parking available at the side of the property