Well-Maintained Property With Each Flat Being Independently Metered For Utilities.
Current Total Rent Passing - £11,040 - Reversionary, Rental - Scope To Increase Subject To Landlord's Discretion.
Town Centre Position Close To Hoghton Street With Four Car Parking Spaces.
The subject property is a substantial end terrace property constructed over ground and first floors, pedestrian and vehicle access is provided off Wright Street, with Flats 1 and 2 being provided to the ground floor, 3 and 4 to the first floor.
Flat 1 has been let to the same tenant since June 2017 and pays a rental of £470.00 per calendar month. This is a one bedroom flat, with a bathroom, kitchen and lounge, with attractive bay window, shower/WC, one car parking space and electric off-peak heating.
Flat 2 is currently vacant, as of September 2023 having been let out at £460.00 per calendar month, this is again a one-bedroom flat with bathroom, kitchen with lounge, shower/WC, one car parking space, electric off-peak heating and conservatory. This flat benefits from a small, paved patio/yard with double doors leading to Wright Street.
Flat 3 has been let to the same tenant since January 2015 and pays a monthly rental of £450.00 per calendar month. This is again a one-bedroom flat with shower/WC, kitchen, lounge with attractive bay window, one car parking space and electric off-peak heating.
Flat 4 is currently vacant, as of April 2023 having been let out at £395.00 per calendar month, this is a one-bedroom flat with shower/WC, kitchen, lounge, one car parking space and electric off-peak heating.
The total rental is approximately £11,040 per annum, but we believe there could be scope to increase these rentals more in line with market rents on reletting, which we believe conservatively would increase the annual rent roll to circa. £23,500 to £25,000 per annum.
Copies of the Assured Shorthold Tenancy Agreements and all other certification pertaining to the property in respect of utilities, safety certification are available on request.
