Residential Investment

A licenced HMO for 7 residents located in the heart of Swansea. The property benefits from 6 letting rooms and has the potential for an annual income in excess of £31,500 once fully let with 7 tenants. The current income is £26,100 pa with one vacant room available to let and five tenants. The Promenade is located on an elevated position with views over Swansea Bay from the front and convenient access down into the city centre. and within walking distance of the university and many local bars and restaurants.

Tenure

Freehold

Tenancies

Room 1 - Let at £450 pcm - £5,400 pa Room 2 -Let at £500 pcm - £6,000 pa Room 3 - Vacant Room 4 - Let at £425 pcm - £5,100 pa Room 5 - Let at £400 pcm - £4,800 pa Room 6 - Let at £400 pcm - £4,800 pa

Council Tax Band

E

Energy Efficiency Rating (EPC)

Current Rating E

Local Authority

Swansea Council

Solicitors

Howells Solicitors, Fitzalan House, Ref: Howells Solicitors, Tel: 02920404022

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.