A well maintained tenanted first floor flat with parking and producing a good rental income

Situated on the western outskirts of the town centre is this well proportioned first floor flat with its own allocated parking space. The spacious 2 bedroom accommodation has been well looked after and benefits from double glazing and gas central heating. The property is let on an Assured Shorthold Tenancy at a rent of £605 per calendar month (£7,260 pa) with the current tenant in occupancy since March 2015. There will be opportunity to increase the yield by up to 10% on the 12 month anniversary in October 2018. With a gross yield equating to over 9% of the low Guide Price this is an excellent opportunity for the first time investor or as an addition to an existing portfolio. Lease – 999 years from 2011 Ground Rent - £75 per annum Maintenance Charge – 25% of repairs and app. £110 per annum insurance.

Tenure

Leasehold. 999 years from 2011

Viewing

Open days

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

Ipswich Borough Council. Tel: 01473 432000

Solicitors

Hayward Moon, Chestnut Court, Wingfield Street, Ipswich IP4 1AR, Ref: Mark Lomas, Tel: 01473 927510

Additional Fees

Buyer's Premium - £600 (£500+VAT) payable on signing the contracts

Administration Charge - 0.3% including VAT subject to a minimum of £840.00 including VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.