14 self-contained studio apartments, fully let producing £93,468 gross (approx. £70,956 net income)

Highly productive block of 14 apartments fully let producing an excellent gross annual yield of £93,468. There are many long standing tenants all on assured shorthold tenancy agreements. Rents include service charges and heating, therefore the current net yield is approximately £70,956 pa. The units vary in size but most include a bedsitting room, en-suite shower and wc although there are some units with separate kitchens and living spaces. There is residents parking to the rear. The property is well located within easy reach of the city centre, railway station and Broadland Business Park.

Tenure

Freehold

Accommodation

14 self-contained ground, first and second floor apartments, various communal areas and hallways.

Outside

Residents parking area to rear.

Services

The landlord is responsible for service costs and heating which is provided by two gas fired boilers which have been recently installed and serviced. There is a fully inspected and approved fire alarm system and a recent electrical inspection has been carried out and passed.

Council Tax Band

A

Viewings

Viewings have been agreed in conjunction with tenants and vendors - the next are on Friday 2 June. To book an appointment please call the Norwich office.

Energy Efficiency Rating (EPC)

Current Rating C, D, E

Services

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

Local Authority

Broadland District Council

Solicitors

Sprake and Kingsley, Ref: Anna Farquharson, Tel: 01986 892721

Additional Fees

Buyer's Premium - £600 inc VAT payable on exchange of contracts.

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.