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 - the next are Tuesday 19 October APPOINTMENT ESSENTIAL - please call to arrange the next available slot

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

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.