This well-positioned property comprises three self-contained apartments located over ground, first and second floors. The ground floor comprises a one bedroom unit, and the first and second floors a two bedroom unit each. All of the apartments are in good condition, benefiting from plenty of storage space, natural light and private external amenity space.
The apartments are let on Assured Shorthold Tenancy Agreements (AST’s) but below market value; currently producing a total of £43,272 per annum.
The property also benefits from planning permission for an additional self-contained one bedroom unit, and ground floor commercial (A2 use class) unit, however, it is thought a more enhanced scheme could be achieved (stpp). The opportunity therefore exists for an investor to increase the rental income, thus creating a better yield, or break each of the apartments up to be sold separately.