£575,000
6 bed block of flats for saleVictoria Park, Dover CT16
6 beds
5 baths
5 receptions
EPC Rating: C
Available immediately
Leasehold
About this property
Description
Investment opportunity - block of five spacious flats
An excellent opportunity to acquire a substantial residential investment comprising five spacious leasehold flats, offered for sale strictly as a single portfolio.
The accommodation consists of four generous one-bedroom flats and a spacious two-bedroom flat occupying the top floor. The flats are well proportioned throughout and offer attractive accommodation with strong rental potential.
Four of the five flats are currently let, producing a combined rental income of approximately £32,640 per annum. There is considerable scope to increase the existing rents towards current market levels, with an anticipated combined rental income across the development in the region of £45,000-£48,000 per annum, subject to refurbishment, market conditions and appropriate tenancy arrangements.
The basement flat currently requires refurbishment before being placed onto the rental market. This has been taken into consideration within the asking price and provides an incoming purchaser with the opportunity to improve the accommodation and further enhance the overall rental return.
The properties are being sold on a leasehold basis only, and the sale does not include the freehold interest in the building. Prospective purchasers should satisfy themselves as to the individual lease terms, service charges, ground rents and other relevant leasehold provisions through their legal representatives.
This opportunity is likely to appeal particularly to portfolio landlords and property investors seeking an established income-producing investment with further potential for rental growth and value enhancement.
Please note: The five flats are offered strictly as one transaction. Individual flats will not be considered for separate sale.
Early enquiries are recommended for further information regarding the existing tenancies, rental schedule and leasehold arrangements.
Tenure: Leasehold (100 years)
Ground Rent: £100 per year
Service Charge: £800 per year
Investment opportunity - block of five spacious flats
An excellent opportunity to acquire a substantial residential investment comprising five spacious leasehold flats, offered for sale strictly as a single portfolio.
The accommodation consists of four generous one-bedroom flats and a spacious two-bedroom flat occupying the top floor. The flats are well proportioned throughout and offer attractive accommodation with strong rental potential.
Four of the five flats are currently let, producing a combined rental income of approximately £32,640 per annum. There is considerable scope to increase the existing rents towards current market levels, with an anticipated combined rental income across the development in the region of £45,000-£48,000 per annum, subject to refurbishment, market conditions and appropriate tenancy arrangements.
The basement flat currently requires refurbishment before being placed onto the rental market. This has been taken into consideration within the asking price and provides an incoming purchaser with the opportunity to improve the accommodation and further enhance the overall rental return.
The properties are being sold on a leasehold basis only, and the sale does not include the freehold interest in the building. Prospective purchasers should satisfy themselves as to the individual lease terms, service charges, ground rents and other relevant leasehold provisions through their legal representatives.
This opportunity is likely to appeal particularly to portfolio landlords and property investors seeking an established income-producing investment with further potential for rental growth and value enhancement.
Please note: The five flats are offered strictly as one transaction. Individual flats will not be considered for separate sale.
Early enquiries are recommended for further information regarding the existing tenancies, rental schedule and leasehold arrangements.
Tenure: Leasehold (100 years)
Ground Rent: £100 per year
Service Charge: £800 per year
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£2,876 per month
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More information
Tenure
Leasehold (100 years)
Service charge
£800 per year
Council tax band
Ground rent
£100
Ground rent date of next review
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