High yielding residential investment comprising six let flats producing £37,700 pa

This large virtual freehold four storey mid terrace property comprises of six self-contained flats. There are three two bedroom flats and three one bedroom flats. Currently all are let producing £725 per week (£37,700 pa). Each flat has a separate electricity, gas and water supply. All the Assured Shorthold Tenancies are six months with the majority holding over: Flat 1 £105 per week, AST dated 12.6.20 Flat 2 £140 per week, AST dated 24.5.19 Flat 3 £95 per week, AST dated 18.1.20 Flat 4 £140 per week, AST dated 4.4.22 Flat 5 £105 per week, AST dated 21.5.21 Flat 6 £140 per week, AST dated 20.3.20 The property is located close to the town centre and sea front near a comprehensive range of services and amenities. This is an ideal opportunity for an investor looking for a high yielding investment.

Tenure

Leasehold

Lower ground floor

Basement Flat 1: Kitchen/lounge, shower room and wc, bedroom

Ground floor

Communal entrance hall Flat 2: Sitting room, kitchen, bathroom, two bedrooms

First floor

Flat 3: Kitchen/lounge, shower room and wc, bedroom Flat 4: Kitchen/lounge, shower room and wc, two bedrooms

Second floor

Flat 5: Entrance hall, shower room and wc, kitchen, bedroom/lounge Flat 6: Kitchen/lounge, shower room and wc, two bedrooms

Outside

Rear yard used by basement Flat 1

Council Tax Band

A & B

Lease Details

Term: 999 years from March 1862 (839 years remaining) Annual ground rent amount: £2.10 Annual service charge amount: £0.00 Ground rent review period: Please refer to Legal Pack Service charge review period: Please refer to Legal Pack

Viewings

Open viewings have been arranged with the tenants for Friday 26 August and Wednesday 7 September. To book an appointment please call the Norwich office.

Energy Efficiency Rating (EPC)

Current Rating C/D

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Great Yarmouth Borough Council

Solicitors

Norton Peskett (Great Yarmouth), Ref: Matthew Breeze, Tel: 01493 849225

Additional Fees

Administration Charge - 0.3% 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.