Call the team on 01603 505 100 for more information
Residential investment producing nearly £35,000pa
Residential investment with a potential income of nearly £35,000pa This is a substantial property which has been divided into eight units, seven of which are currently let. The current gross income is £30,344pa and the property is registered as an HMO with Great Yarmouth Borough Council on a five year licence from 7th August 2012, ref: HMO/LN/0069. The units are let on a weekly basis ranging from £72 - £86. The landlord is responsible for Council Tax, water, gas and communal electricity bills and these amount to approximately £4,705pa. The tenants are responsible for their own electricity via individual meters for each unit.
Tenure
Freehold
Description
Ground Floor
Unit 1: Kitchen, sitting room, bedroom. Let at £85 per week. Tenancy commenced 25th Febarury 2013. Unit 2: Bedsit with fully fitted kitchenette. Let at £86 per week. Tenancy commenced 16th January 2017. Unit 3: Kitchen, sitting room, bedroom. Let at £85 per week. Tenancy commenced 3rd August 2012. Two communal wc's, two communal showers. Coin operated communal washing machine, income £600pa.
First Floor
Unit 4: Maisonette with kitchen/sitting room, stairs to bedroom. Let at £85 per week. Tenancy commenced 18th April 2013. Unit 5: Kitchen, sitting room, bedroom. Let at £85 per week. Tenancy commenced - tbc Unit 6: Bedsit with kitchenette. Let at £74 per week. Tenancy commenced 24th July 2015. Unit 7: Bedsit with fully fitted kitchenette. Let at £72 per week. Tenancy commenced 14th September 2012. Unit 8: Fully fitted kitchen, sitting room/bedroom. Currently vacant. Potential rent £85 per week.
Outside
Small rear communal yard.
Note
In addition to the administration charge, the purchaser will be required to pay a buyer's premium of £600 (£500+VAT) which is payable upon signing the contracts.
Viewing
Open days
Energy Efficiency Rating (EPC)
Current Rating 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. Tel: 01493 856100
Solicitors
Bishop and Sewell LLP, 59-60 Russell Square, London WC1B 4HP, Ref: Mr S Bishop, Tel: 020 7079 2416
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 - 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.