14 bed detached house for sale

New Town Road, Colchester CO1

An investment opportunity to purchase a property with a predicted 12 months gross income of £81,660 a year, yielding 11.26%. Being let to students, situated close to the town centre.

Description

An excellent opportunity to purchase a well-managed investment property that has been continuously rented for over 25 years. This is part of a superb property portfolio, that is only selling due to the partners retiring. A predicted 12 months gross income of £81,660 a year, yielding 11.26%.

The property features accommodation spread over three floors: The ground floor includes a hall, kitchen, laundry room, sitting/dining room and six study bedrooms, one with an ensuite shower room and three shower rooms and two wc's. On the first floor there are five study bedrooms, a kitchen, cloakroom and a shower room, whilst on the third floor there are three study bedrooms, a kitchen and shower room.

Location

The property is conveniently located near the city centre of Colchester, where you can find a variety of shops, restaurants, and numerous amenities. It is also close to the Town railway station, which provides a fast and frequent service to London, taking approximately 46 minutes. The University is easily accessible via the bus, taking about 22 minutes or alternatively there is the Colchester Institute on Sheepen Road also in easy reach.

Hall

Stairs to first floor.

Study Bedroom One (3.35m x 2.95m (11 x 9'8))

Window to side

Ensuite Shower Room

Low level wc, wash hand basin and shower cubicle.

Study Bedroom Two (4.09m x 1.85m (13'5 x 6'1))

Window to front and wash hand basin.

Study Bedroom Three (3.78m x 2.46m (12'5 x 8'1))

Window to front and wash hand basin.

Study Bedroom Four (3.25m x 3.05m (10'8 x 10))

Window to front and wash hand basin.

Laundry Room

Kitchen (3.40m x 2.44m (11'2 x 8))

Window to side, fitted units with sink unit and cupboards under, adjacent work tops with cupboards and drawers under.

Lounge/Diner Room (5.54m x 4.19m (18'2 x 13'9))

Windows to rear and side

Study Bedroom Five (4.24m x 2.69m (13'11 x 8'10))

Windows to rear and side and wash basin.

Study/Bedroom Six (3.12m x 2.49m (10'3 x 8'2))

Window to side and wash hand basin.

Shower Complex

Three shower cubicles, two wc's and wash hand basin.

First Floor Landing

Cloakroom

Window to side, low level wc and wash hand basin.

Shower Room

Low level wc, wash hand basin and shower cubicle.

Study Bedroom Seven (4.14m x 1.88m (13'7 x 6'2))

Window to front and wash basin.

Study Bedroom Eight (3.73m x 2.46m (12'3 x 8'1))

Window to front and wash basin.

Study Bedroom Nine (3.94m x 3.78m (12'11 x 12'5))

Window to front and fitted kitchenette.

Study Bedroom Ten (3.40m x 2.41m (11'2 x 7'11))

Window to rear and wash basin.

Study Bedroom Eleven (3.45m x 3.40m (11'4 x 11'2))

Window to rear and fitted kitchenette.

Kitchen Two (3.40m x 2.13m (11'2 x 7'))

Window to rear, fitted units incorporating a sink unit and cupboard under adjacent work surfaces with cupboards and drawers under.

Second Floor Landing

Kitchen Three (3.51m x 2.06m (11'6 x 6'9))

Window to side, fitted units incorporating a sink unit and cupboard under adjacent work surfaces with cupboards and drawers under.

Study Bedroom Twelve (3.61m x 2.62m (11'10 x 8'7))

Window to front and wash basin.

Study Bedroom Thirteen (4.70m x 2.13m (15'5 x 7))

Window to front and wash hand basin.

Study Bedroom Fourteen (4.55m x 3.78m (14'11 x 12'5))

Window to rear and fitted kitchenette.

Shower Room

Shower cubicle, low level wc and wash hand basin.

Outside And Gardens

There is a front lawned garden with a driveway adjacent leading up to a cart lodge garage with the potential to convert. There is a brick paved patio to immediate rear leading onto a lawned garden with mature trees and shrubs.

Agents Note

Services: Mains water, electricity, gas and drainage are connected to the property and gas central heating.
Tenure: Freehold
Local Authority: Colchester City Council
Council Tax: Band C
EPC: Band D

Licenced HMO
Potential to extend.
Available to purchase as a furnished tenanted property or with vacant possession.