City centre residential investment producing over £35,400 pa when fully let - five flats, four let, one vacant

This Grade II listed mid terrace property is located in a prime position overlooking Chapelfield Gardens. It has been stylishly and sympathetically converted to create accommodation containing five self contained flats. The accommodation covers four floors with a one bedroom basement flat on the lower ground floor accessed from the side, a duplex one bedroom flat and studio flat on the ground floor, a studio flat on the first floor and a one bedroom flat on the second floor. Four of the five units are currently let providing an income of £2,400 pcm (£28,800 pa). The managing agent is currently advertising the ground floor studio flat to rent at £550 pcm. This is a rare opportunity to acquire a high yielding investment in a sought after location.

Tenure

Freehold

Basement

Unit 9A (accessed from side): Sitting room/kitchen, bathroom., bedroom Let on a six month Assured Shorthold, now periodic tenancy dated 14th March 2017 at 425 pcm (£5,100 pa)

Ground Floor

Communal entrance hall Unit one: Kitchen/sitting room/bedroom, shower and w.c. Currently vacant, OMRV £550 pcm (£6.600 pa) Unit two: Kitchen/living room of split level flat Let on a twelve month Assured Shorthold tenancy dated 4th February 2022 at £625 pcm (£7,500 pa)

First Floor

Unit three: Kitchen/sitting room/bedroom, shower room Let on a twelve month Assured Shorthold tenancy dated 10th February 2022 at £650 pcm (£7,800 pa) Unit four: Bedroom and shower room of split level flat

Second floor

Unit five: Entrance hall, bedroom, bathroom, sitting room/kitchen, Let on a six month Assured Shorthold, now periodic tenancy dated 30th February 2021 at £700 pcm (£8,400 pa)

Viewings

Open viewings have been arranged for Wednesday 20 and Tuesday 26 April, subject to agreement with the tenants. To book an appointment please call the Norwich office.

Energy Efficiency Rating (EPC)

Current Rating D and E

Services

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

Local Authority

Norwich City Council

Solicitors

Norton Peskett, Ref: Matthew Breeze, Tel: 01493 849200

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 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.