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A SUBSTANTIAL FOUR STOREY INVESTMENT PROPERTY GENERATING A GROSS INCOME OF OVER £29,000 PA WITH FURTHER POTENTIAL FOR INCREASED REVENUE OF UP TO £40,000 PA.
Swanland Court is a substantial four storey former guest house that has for many years been run by the current owner as a six bedroom HMO. In addition to the six letting units, the owner has retained the majority of the ground floor for his own use. This large flat is part way through refurbishment but could easily be split to create two more letting units. The majority of the units are let to very long term tenants with only one flat vacant at the time of printing, the gross income is £24,726pa and when fully let ££29,146 pa. Further development of the owners accommodation could, in the agents opinion provide potential for increased gross revenue to £40,000 pa.
Tenure
Freehold
Situation
Northside of Bridlington is popular due to its close proximity to both the town centre, recently re opened leisure world, the sea front and harbour. Bridlington is currently undergoing a programme of redevelopment and regeneration which lends itself to investment within a growing tourist market.
Accommodation
Ground Floor: Entrance Hall Owners Flat: Bed/Sitting Room, Kitchen, WC, Hallway, Bedroom One, Bedroom Two, Bathroom. Flat 8: Hall, Living Room/Bedroom, Kitchen, Bathroom. First Floor: Off the landing are two communal shower rooms and a WC. Flat 3: Living Room/Kitchen, Bathroom. Flat 2: Hall, Bedroom, Kitchen,Living Room. Second Floor: With communal WC facility. Flat 4: Bedroom, Living Room, Kitchen. Flat 5: Living/Kitchen/Bedroom. Flat 6: Living Room, Bedroom, Hall, Kitchen. Third Floor: Landing /WC. Flat 7: Hall, Living room/kitchen, Bedroom.
Income
We are verbally informed by the vendor that the current rental income is as follows:- Flat 1 - Part refurbished - currently vacant Flat 2 - £80.00pw (£4,160pa) tenancy commenced 26.2.10 Flat 3 - £75.00pw (£3,900pa) tenancy commenced 24.4.05 Flat 4 - £82.50pw (£4,290pa) tenancy commenced 21.10.14 Flat 5 - £75.00pw (£3,900pa) tenancy commenced 27.12.13 Flat 6 - £68.00pw (£3,536pa) tenancy commenced 4.4.98 Flat 7 - Vacant - previously let at £85 pw (£4,420pa) Part refurbished Flat 8 - £95.00pw (£4,940pa) tenancy commenced 16.5.17 £24,726
Joint Agent
Dee Atkinson & Harrison 56 Market Place, Driffield, YO25 6AW Tel: 01377 241919
Viewing
Energy Efficiency Rating (EPC)
Current Rating F
Services
Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.
Local Authority
East Riding of Yorkshire Council
Solicitors
Move With Us, Ref: Yasmin Zermane, Tel: 01480 409 552
Offered in association with
Dee Atkinson and Harrison
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 - The purchaser will be required to pay an administration charge of £600 (£500 plus VAT) in addition to the purchase price of the property.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.