Offers over
£650,000
(£246.49/sq. ft)
Town house for saleAtlantic House, Jengers Mead, Billingshurst RH14
2,637 sq. ft
Leasehold
About this property
4 x 2-bed flats
Description
The property comprises 10 flats, 6 of which have been sold off on a long-leasehold interest, with the remaining 4 now being available as part of a combined sale. All 4 flats are 2-bedroom and have been renovated to a high standard including new fitted kitchens, contemporary styled bathrooms, with each having a video entry security system.
N.B. It is considered there is potential to build 3 more flats at roof level, subject to receipt of the necessary consents. Verbal approval of plans has been provided by the Superior Landlord, subject to separate negotiation of terms. Further details are available upon request.
Location
Billingshurst is a large village situated at the junction of the A29 and A272. Horsham is approximately 9 miles to the north-east and Midhurst is approximately 15 miles to the west. The property forms part of a modern mixed retail, office and residential development in the heart of Billingshurst known as Jengers Mead, which is home to a mixture of occupiers including a bakery, a dry cleaners, a butchers and a wine shop. Close by is a Sainsbury's Local and a Tesco Express.
Tenure
The investment is available by way of a sale of the long leasehold interest with 997 years remaining. The 4 flats are tenanted and subject to the existing AST's.
Legal Costs
Each party to be responsible for their own legal costs.
Tenancy Information
The flats are currently producing a combined gross income of £59,160 per annum, broken down as follows:
Flat 2: £1,225 pcm
Flat 4: £1,325 pcm
Flat 5: £1,300 pcm
Flat 7: £1,080 pcm
After deducting for this year’s anticipated service charge of £6,875.14, the flats are producing a net income of £52,284.86 which can all be brought to an end within 12 months if required.
Council Tax Bands
The 4 flats all fall under Council Tax Band B.
The property comprises 10 flats, 6 of which have been sold off on a long-leasehold interest, with the remaining 4 now being available as part of a combined sale. All 4 flats are 2-bedroom and have been renovated to a high standard including new fitted kitchens, contemporary styled bathrooms, with each having a video entry security system.
N.B. It is considered there is potential to build 3 more flats at roof level, subject to receipt of the necessary consents. Verbal approval of plans has been provided by the Superior Landlord, subject to separate negotiation of terms. Further details are available upon request.
Location
Billingshurst is a large village situated at the junction of the A29 and A272. Horsham is approximately 9 miles to the north-east and Midhurst is approximately 15 miles to the west. The property forms part of a modern mixed retail, office and residential development in the heart of Billingshurst known as Jengers Mead, which is home to a mixture of occupiers including a bakery, a dry cleaners, a butchers and a wine shop. Close by is a Sainsbury's Local and a Tesco Express.
Tenure
The investment is available by way of a sale of the long leasehold interest with 997 years remaining. The 4 flats are tenanted and subject to the existing AST's.
Legal Costs
Each party to be responsible for their own legal costs.
Tenancy Information
The flats are currently producing a combined gross income of £59,160 per annum, broken down as follows:
Flat 2: £1,225 pcm
Flat 4: £1,325 pcm
Flat 5: £1,300 pcm
Flat 7: £1,080 pcm
After deducting for this year’s anticipated service charge of £6,875.14, the flats are producing a net income of £52,284.86 which can all be brought to an end within 12 months if required.
Council Tax Bands
The 4 flats all fall under Council Tax Band B.
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