7 substantial long Leasehold flats in a prime city centre location producing an income of £58,920pa

Historic city centre house converted into seven substantial apartments. Current rent reserve £58,920 Ivory House, an historic Grade II listed building in the heart of the City dating from the 18th Century was converted in 2000 into seven substantial and individual apartments. The building contains numerous period features and each flat benefits from fully self-contained centrally heated accommodation. The properties are being sold on individual long leaseholds and are currently let producing a combined income of approximately £59,000pa. The potential exists for the enhancement of this income. Being within a few minutes walk of the city centre, the properties are excellently placed for access to all high street shops, city centre amenities and public transport, including Norwich bus station which lies within 150 metres of the property. A valuable and highly productive investment opportunity and internal inspection is highly recommended.

Tenure

Leasehold. Remainder 125 years from April 2008

Flat 1 (Ground floor and basement)

Hall, lounge, kitchen, 3 bedrooms, 2 bathrooms, cellar storage rooms. Rent £750pcm

Flat 2 (Ground floor)

Hall, lounge, kitchen, 2 bedrooms, bathroom. Rent £695pcm

Flat 3 (First floor - front)

Hall, lounge, kitchen 2 bedrooms, bathroom. Rent £650pcm

Flat 4 (First floor - rear)

Hall, lounge, kitchen, 2 bedrooms, box room, bathroom. Rent £675pcm

Flat 5 (Second floor - front)

Hall, lounge, kitchen, 2 bedrooms, bathroom. Rent £750pcm

Flat 6 (Second floor - rear)

Hall, lounge, kitchen, 2 bedrooms, box room, bathroom. Rent £695pcm

Flat 7 (Top floor)

Hall, lounge, kitchen/dining room, 2 bedrooms, bathroom. Rent £695pcm.

Note

In addition to the administration charge, the purchaser will be required to pay a buyers premium of £900.00 (£750 + VAT).

Income

Currently there are six of the seven flats let with rents ranging from £650 - £750pcm. Flat six is vacant, although is currently being offered for rent and may be occupied by the date of the auction. A schedule of rents and Assured Shorthold Tenancy Agreement will be available within the free legal pack.

Viewing

Please call the Auctioneers - 01603 505100

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. Tel: 0344 980 3333

Solicitors

Rosling King, 10 Old Bailey, London EC4M 7NG, Ref: Ann Ebberson

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ 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.