One bedroom first floor flat let on an AST with a rent of £400 per month £4800 per annum

This first floor one bedroom apartment has been let for many years to the current tenant who pays a rent of £400 per calendar month. The property which is central to the town is also within walking distance of the sea front and Market Place. The property consists of a lounge/ kitchen, double bedroom and bathroom. We understand the property is in a good decorative order although on going to print the flat has not been inspected by a member of the Auction House staff. This is an excellent property to add to an investment portfolio as it gives a double digit return on the current guide price.

Tenure

Leasehold. Remainder of a 999 year lease commencing 2006. Peppercorn Ground Rent, service charge 5% of maintenance costs.

Accommodation

Entrance lobby, lounge/kitchen, double bedroom, bathroom.

Lease details

Term: 999 year lease commencing 2006 Ground Rent: Peppercorn Service Charge: 5% of maintenance costs.

Energy Efficiency Rating (EPC)

Current Rating F

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

Bindman, 22 Front Street, Whickham, Newcastle Upon Tyne, NE164DT, Ref: Les Brand, Tel: 01914884950

Additional Fees

Buyer's Premium - £420 inc VAT payable on exchange of contracts.

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.