Property Brief
5 x individual leasehold apartments (numbers 3, 10, 13, 22, and 24) located on Beech Close, Coltman Street. Each unit is configured with a living room, bedroom, kitchen, and bathroom, and features electric heating. Residents benefit from access to the rear communal car park.

Apartments available for purchase individually or as a collective.

Rental information
Current rents: £400 pcm per property.
Market rents: £500 pcm per property.
Tenancies: Assured shorthold tenancies.

Gross yield of 15% based on current rents (or approx. 17.1% at market rent and accounting for lease costs).

Leasehold Details
Term: 999 years, commencing December 1985.
Ground rent: £10 per property per annum.
Service charge: Approximately £500 per property per annum.

Condition Report
The properties demonstrate varying conditions. While current tenants are content, each apartment would benefit from a cosmetic refurbishment to achieve market rents. Kitchens and bathrooms are serviceable but dated.

Compliance
Gas and electrical certificates are on file and available upon request. Energy Performance Certificates (EPCs) and apartment sizes are detailed below:

Apt. 3 - D (potential C) - 29 sq. m
Apt. 10 - E (potential C) - 31 sq. m
Apt. 13 - D (potential C) - 31 sq. m
Apt. 22 - E (potential C) - 35 sq. m
Apt. 24 - D (potential C) - 31 sq. m

A buyer's fee 1.8% including VAT is payable for this property, with 25% due upon accepted offer and the remaining 75% balance paid on completion. 

E.g. A fee of £2,880 based on a £160,000 purchase price.

Buyer Disclaimer - https://bit.ly/3CzncNu

We also have an in-house landlord insurance expert. Call the office on 01482 562562 and ask to speak with Jack Newton