*Guide | £480,000 (plus fees)
- Block of Apartments
- Tenure: Freehold
Call the team on 01603 505 100 for more information
High yielding freehold residential investment comprising eight flats let producing over £51,000 pa
Known as Logun Court this modern block of flats was built in 2007. It comprises eight let flats producing £50,868 pa. In addition there is £150 pa ground rent income from flat 6 and 8 and the high street shop which were sold off on long leases. Three of the eight flats are let to Waveney District Council and the other five flats are let to individuals. Four of the flats are located above and behind the high street shop at the front and four are located at the rear accessed from Gun Lane. Flat 6 sold for £91,000 in 2019 and flat 8 for £111,000 in 2023 giving an investor scope to sell the 8 flats off individually. This is an ideal opportunity for an investor looking for a high yielding investment or to sell the flats off individually.
Tenure
Freehold
Description
Flat 1: two bedroom 58 sq/ m mid floor flat let at £632 pcm (£7,584 pa) Flat 2: one bedroom 57 sq/m mid floor flat let at £500 pcm (£6,000 pa) Flat 3: one bedroom 44 sq/m top floor flat let at £515 pcm (£6,180 pa) Flat 4: one bedroom 44 sq/m mid floor flat let at £485 pcm (£5,820 pa) Flat 5 two bedroom 59 sq/m ground floor flat let at £632 pcm (£7,584 pa) Flat 7: one bedroom 58 sq/m flat with parking space let at £565 pcm (£6,780 pa) Flat 9: two bedroom 40 sq/m top floor flat let at £535 pcm (£6,420 pa) Flat 10: two bedroom 44 sq/m top floor flat let at £625 pcm (£7,500 pa)
Outside
Off road parking at rear accessed off Gun Lane.
Council Tax Band
A
Energy Efficiency Rating (EPC)
Current Rating B, 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
East Suffolk Council
Solicitors
HCR Law (Norwich), Ref: Lauren Ward, Tel: 01603 365544
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
Administration Charge - £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.
Disclaimer: The map preview provided above is for general guidance only and may not accurately reflect the exact location or surrounding buildings. Prospective buyers and interested parties are strongly advised to independently verify the precise location and surroundings before bidding.
