High yielding investment producing over £61,000 pa Ten let flats and commercial unit

This large four storey property comprises of ten self contained flats of which six are one bedroom flats and four are two bedroom flats. Currently all are let on six month assured shorthold tenancies with the majority holding over, and in total produce £58,.316 pa. On the ground floor is commercial unit fronting Regent Road which trades as Vintage Flavour let producing £3,000 pa. The property is located in the town centre close to the sea front. Access to the flats is via Apsley Road. This is an ideal opportunity for an investor looking for a high yielding investment.

Tenure

Leasehold

Current rents and tenancy dates

Flat 1 - £135 per week (£7,020 pa), 6 month AST dated 27th October 2018 Flat 2 - £368 pcm + £50.00 pcm top up (£5,016 pa), 6 month AST dated 18th December 2013 Flat 3 - £110 per week (£5,720 pa), 6 month AST dated 15th December 2018 Flat 4 - £100 per week (£5,200 pa), 6 month AST dated 9th April 2021 Flat 5 - £95 per week (£4,940 pa), 6 month AST dated 5th June 2020 Flat 6 - £110 per week (£5,720 pa), 6 month AST dated 9th April 2021 Flat 7 - £240 every 2 weeks (£6,240 pa), 6 month AST dated 26th August 2016 Flat 8 - £455 pcm (£5,460 pa), 6 month AST dated 27th March 2022 Flat 9 - £120 per week (£6,240 pa), 6 month AST dated 1st January 2018 Flat 10 - £130 per week (£6,760 pa) 6 month AST dated 1st January 2018

Lease Details

Term - 999 years from 29th September 1888 (865 years remaining)

Viewings

Individual viewings can be arranged - please call the Norwich office to arrange the next available slot

Accommodation

Ground floor: communal entrance hall First floor: landing, flats 8, 9 and 10 Second floor: landing, flats 4, 5, 6 and 7, store room and electric meter cupboard Third floor: landing, flats 1, 2 and 3

Energy Efficiency Rating (EPC)

Current Rating C and D

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

Solicitors

England & Co, Ref: Chelsea Matthews, Tel: 01493 604990

Offered in association with

Bycroft Residential

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.