A block of 27 apartments located on the seafront at Great Yarmouth with a potential gross income of £106,000 pa when fully let.

Located almost opposite the Britannia Pier, this house of multiple occupation has been divided into twenty apartments, most with self contained facilities. The majority are currently let and the remaining units are being prepared for re-let. The current rent paid is £30,000 pa for the remainder of a 125 year lease. Tenants are liable for electricity bills and council tax. Water bills are paid by owner (currently in the region of £1,200pa).

Tenure

Leasehold

Shared hallways, ground, first, second and third floor studio and one bedroom units most with self contained facilities. some shared toilets and shower facilities.

Tenancy details

The current tenants include many long standing occupants. Recent lets are signed up on six months assured shorthold tenancies. Current rents range from £75-£100 each.

Lease Details

The property is held on the remainder of a 125 year commercial lease (commenced on 01.04.2005). Current rent £30,000 pa

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

Solicitors

Norton Legal, Unit 8 Beech Avenue, Taverham, Norwich, NR8 6HW, Ref: Tracy Guest, Tel: (01603) 864331

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £900 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.