Call the team on 01603 505 100 for more information
High yielding residential investment producing over £25,000 pa Four let flats
This freehold property was converted into four self contained one bedroom flats around twenty years ago. Currently all the flats are let producing £2,085 pcm (£25,020 pa). Each flat has a separate electricity, water and gas supply. The freehold of no 47 is also included in the sale, which is a one bedroom ground floor flat that has been sold off on a 999 year lease with effect from 1990. The lease allows a contribution of 20% to maintenance of the whole block. The property is located at the end of a no through road in the Thope Hamlet area. It is less than a mile from the city centre close to Carrow Road, Riverside Retail Park and the train station. This is an ideal opportunity for an investor looking for a high yielding investment.
Tenure
Freehold
49
One bedroom ground floor flat accessed from the front let on a periodic Assured Shorthold Tenancy at £515 pcm (£6,180 pa) Entrance hall, bedroom, shower room with wc, kitchen, sitting room.
49a
One bedroom ground floor flat accessed from the rear let on a twelve month Assured Shorthold Tenancy at £545 pcm (£6,540 pa) until 22nd September 2022. Entrance hall, shower room with wc, bedroom, sitting room, kitchen.
51
One bedroom first floor flat accessed from the rear let on a periodic Assured Shorthold Tenancy at £535 pcm (£6,420 pa) Kitchen, sitting room, bedroom with ensuite shower and wc.
51a
One bedroom first floor flat accessed from the rear let on a periodic Assured Shorthold Tenancy at £490 pcm (£5,880 pa) Entrance hall, shower room with wc, bedroom, sitting room, kitchen.
Outside
Two sheds, rear garden, front yard area, off road parking space at the front used by flat no 49
Viewings
Individual viewings are being arranged for Monday 6 June, APPOINTMENT ESSENTIAL. Please call the Norwich office to book an appointment
Energy Efficiency Rating (EPC)
Current Rating C
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
Birketts, Ref: Kristian Nelson, Tel: 01603 756472
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
Buyer's Premium - £900 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a miniumum 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.