Residential investment opportunity comprising a freehold property converted in part to a ground floor apartment and a two bedroomed duplex first and second floor apartment

Located close to Wellingborough town centre, the property comprises a part converted ground floor apartment with communal entrance hall, lounge, kitchen, bedroom, bathroom, courtyard garden and two storey outbuilding. The upper floor apartment comprises a communal entrance hall, lounge, kitchen, two double bedrooms and a bathroom. The upper floor apartment is let on a periodic Assured Shorthold Tenancy at a rent passing of £495 per calendar month excluding bills, giving an annual yield of £5,940 gross.

Tenure

Freehold

Planning

Planning consent was granted on the 6th April 2010 to convert the existing ground floor shop into an apartment and the upper floors into a self contained maisonette. We understand that Building Regulations have not been granted, however the vendor may supply an Indemnity Policy within the legal pack. Any planning enquires should be directed to the Borough Council of Wellingborough.

Accommodation

Ground Floor Flat

Communal entrance, lounge, kitchen, bedroom, bathroom, mezzanine room and cellar. There is a courtyard garden and a two storey outbuilding which is currently derelict.

First Floor Duplex

Hall, lounge, kitchen, bedroom, bedroom two and bathroom.

Tenancy

The first floor apartment is let on an Assured Shorthold Tenancy which is on a periodic agreement at a rent passing of £495 per calendar month, excluding bills.

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

Borough Council of Wellingborough - Telephone: 01933 231902

Solicitors

Key Conveyancing, St Edmunds House, St Edmunds Road, Northampton NN1 5DY, Ref: Janet Stevenson, Tel: 01604 210680

Additional Fees

Administration Charge - The purchaser will be required to pay an administration charge of £1,000 plus VAT (£1,200)

Disbursements - See Special Conditions of Sale within the legal pack

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