Town centre investment property 16.5% gross yield

A freehold, town centre investment property occupying a prime position which comprises 4 self-contained residential units plus a vacant former warehouse/office unit behind which is capable of further development subject to planning consent. All 4 units are let producing an immediate income of £20,616 per annum, a gross yield of 16.5% at the guide price.

Tenure

See Legal Pack

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Unit 7 - Ground Floor Studio let at £373 per month

Vestibule Living room/bedroom - 18'3 x 11'3 Kitchen - 6'9 x 4'3 Shower room - 7' x 4'6.

Unit 7a - first & second floor maisonette let at £489 per month

Approached via side passage to rear yard area. First Floor - Sitting Room - 13'6 x 11'3 Kitchen - 8'9 x 8' Second Floor - Bedroom - 11'3 x 7'6 Bathroom - 11'9 x 7'9.

Unit 9 - ground floor studio let at £373 per month

Vestibule Living room/bedroom - 14'9 x 13'6 + recess Kitchen - 10' x 4' Shower room - 6'9 x 3'9 ave.

Unit 9a - first & second floor maisonette let at £483 per month

Approached via side passage to rear yard area. First Floor - Sitting Room - 14'3 x 13' Kitchen - 10'6 x 8' Bathroom - 10'9 x 5' Second Floor - Bedroom 1 - 12'9 x 7'3 Bedroom 2 - 13' x 10'9

Vacant rear warehouse/office unit

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Cumberland Council

Solicitors

Burnetts Solicitors, Victoria House, Ref: Kelly Harding, Tel: 01228 552222

Additional Fees

Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.