Call the team on 01603 505 100 for more information
High yielding residential investment producing £19,500 pa Six flats (4 let, 2 vacant)
This large Grade II Listed three storey mid terrace property comprises of three studio flats, two 1 bedroom flats and one 2 bedroom flat. Although currently arranged as six flats the planning allows for five flats and so some reconfiguration work is required. When fully let the income could be over £24,000 pa. The property is located close to the town centre and beach. This is an ideal opportunity for an investor looking for a high yielding investment.
Tenure
Leasehold
Planning
Planning permission was granted on 22nd April 2021 for the change of use from holiday lets to residential lets. Reference: 06/20/0652/CU. Further details including plans can be found on the public access website of Great Yarmouth Borough Council, www.great-yarmouth.gov.uk/planning.
Ground Floor
Communal entrance hall Flat One: Vacant studio flat comprising sitting room / bedroom / kitchen, shower and wc Flat Two: One bedroom flat with separate side access comprising entrance hall, kitchen, sitting room, bedroom, shower and wc. Let on an Assured Shorthold Tenancy at £415 pcm (£4,980 pa)
First Floor
Flat Three: Vacant studio flat comprising kitchen, shower and wc, sitting room / bedroom
Second Floor
Flat Four: Two bedroom flat let on an Assured Shorthold Tenancy at £420 pcm (£5,040 pa) comprising kitchen, shower & wc, sitting room, 2 bedrooms, balcony Flat Five: Studio flat let on an Assured Shorthold Tenancy at £375 pcm (£4,500 pa).comprising bedroom / sitting room / kitchen, shower & wc, room Flat Six: One bedroom flat let on an assured shorthold tenancy at £415 pcm (£4,980 pa) comprising entrance hall, kitchen, shower & wc, bedroom, sitting room, balcony
Outside
Communal front garden, rear enclosed yard.
Lease Details
999 yrs from 24 June 1845 (823 yrs remaining)
Viewings
Individual viewings can be arranged - please call the Norwich Office to arrange the next available slot on this day
Energy Efficiency Rating (EPC)
Current Rating D, E
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Great Yarmouth Borough Council. Tel: 01493 856100
Solicitors
Norton Legal, Unit 8 Beech Avenue, Taverham, Norwich, NR8 6HW, Ref: Tracy Guest, Tel: (01603) 864331
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 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.