Part let Three Storey Mid Terraced House Divided into 5 flats in Central Location Requiring Refurbishment

A substantial three storey bay fronted terraced house converted in to 5 flats comprising of 2 x studio flats to the ground floor, 1 x 1 bedroom flat and 1 x studio to the first floor with a 1 bedroom flat to the second floor. All the flats have independent supplies and require upgrading; however, the property provides the purchaser an opportunity of placing their own stamp on the current accommodation, remodelling of the current flat layouts and a split of the title into independent units or alternatively conversion of the entire property to a substantial HMO. Serviced accommodation could also be a potential use given its central location. In our opinion the building offers a superb development/investment opportunity. We ae advised that three flats out of the five are let which we are informed currently generates a combined income of £15,900 per annum, with scope for betterment by way of letting the two further apartments. We are also informed that flats 3 & 4 are let by way of a periodic tenancy with no tenancy agreements available. The property is located in the Riverside area of Cardiff and therefore is a short walk to the City Centre, close to the property are local shops, parks, schools and other amenities.

Tenure

See Legal Pack

Accommodation and Tenancies

Ground Floor: Communal hallway. Flat 1: Lounge/bedroom, kitchen, bathroom. Currently Vacant. Flat 2: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let on an AST at £425 per calendar month. First Floor: Landing. Flat 3: Lounge, bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month. Flat 4: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month. Second Floor: Flat 5: Hall, lounge, bedroom, kitchen, bathroom. Currently Vacant.

Outside

Forecourt, garden to the rear. Garage not included.

Viewing Schedule

Via the auctioneer. Please call us on 01633 212555 to book an appointment.

Energy Efficiency Rating (EPC)

Current Rating D

Local Authority

Cardiff Council

Solicitors

Howells Solicitors, Fitzalan House, Fitzalan Court, Fitzalan Road, Cardiff, CF24 0EL, Ref: Susan Pearson, Tel: 02920 404010

Additional Fees

Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 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.