Freehold Investment - 2 Apartments

Freehold Investment – 2 Apartments

For Sale £195,000


  • LOCATION

  • A freehold investment property of two 1 bed apartments let on AST's to the North of Peterborough and within walking distance of local shops and the Brotherhood Shopping Centre which includes M&S, TKMax, Next and Asda amongst others. There is also a Morrison's, McDonalds and other retail outlets nearby.

  • The house is positioned at the Northern end of Lincoln Road which is a dead end road with footpath link over the A47 to the Retail Park.

  • DESCRIPTION

  • An end of terraced house with front and rear garden, split into an apartment on each floor. The apartments have not been inspected internally by the Agent but we are advised that both are 1 Bedroomed and have double glazed windows.

  • ACCOMMODATION

  • With separate entrance doors, the First Floor apartment has the front garden which provides off road parking and the Ground Floor has the benefit of the rear garden. The apartments were professionally divided following planning consent in 2004 and there are no shared areas. Plans are available or can be seen on the Peterborough Panning Portal under ref 04/00364/FUL
  • The First Floor is approx. 462 Sq Ft with bedroom to the front with ensuite shower and Living room and separate Kitchen to the rear.
  • The Ground Floor is approx. 520 Sq Ft. with bedroom to the front and Living Room, Kitchen and Bathroom to the rear.
  • AMENITIES

  • Local amenities are available in Lincoln Road and the Brotherhood Retail Park offers major shopping outlets

  • SERVICES

  • We are advised that all main services are connected to the property. We understand that both apartments have Gas Fired Central heating. These services have not been inspected or tested by the agent.

  • TERMS

  • The property is available at a price of £195,000 with the benefit of the existing AST's reflecting a 6.76% Gross return on investment. The Apartments are let for a combined £13,200 per annum (£575 and £525 pcm) and are currently managed by a local agent. The landlord currently receives approximately £1,000 per month net of management costs. The local agent is happy to continue the management if required.

  • OUTGOINGS

  • We understand that both apartments are band A council Tax and this is the responsibility of the tenant to pay.

  • VAT

  • We are advised that the property has not been elected for VAT.

  • LEGAL COSTS

  • Both Parties will be responsible for their own legal costs.

  • SERVICE CHARGE

  • Not Applicable

  • PARKING NOTES

  • Off road parking for the First Floor has been created in the front of the property for the First Floor apartment.

  • OTHER

  • Finance may be available through Independent Financial Brokers and P & F Commercial would be pleased to make an introduction for you. The Brokers are completely Independent and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

  • VIEWING

  • As this is an investment purchase, internal viewing will only be arranged once terms have been agreed and Solicitors instructed.


    Property Details

    • Reference: 10691
    • Type: Investments
    • Status: For Sale

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