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Residential Development for sale

Regency House

£1,200,000

Property Description

Full description

Investment opportunity. A three year old purpose built block of 14 x one bedroom flats, situated in the heart of Bournemouth town centre and within walking distance of shops and the beach. The investment is for 9 x 1 bedroom flats and the freehold. Flat numbers: 1, 2, 3, 4, 5, 11, 12, 13 & 14 are all currently let on asts and producing £64,800 p.a. Giving a 5.4% return, based on the asking price. The flats have been finished to a high specification throughout. There are 4 x off road parking spaces. The flats are approximately 450 sq ft in size. The flats have a value in the region of £140,000 each giving a GDV of £1,260,000. Flats 6, 7, 8, 9 & 10 have been sold on 99 year leases, with a ground rent of £200.00 p.a. per unit. Churchfield Holiday lettings have indicated that this investment would be an ideal building to use for holiday lettings and have indicated that a rental of approximately £400.00 per week per unit could be achieved during the peek season. The investment will be sold with the benefit of the freehold. Remainder of a 10 year NHBC warranty. For further details please contact Andrew Hooper.

Please note: For the acquisition of any Land, Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.5% (minimum fee of £2,000) plus Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell or re-let the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.5% (minimum fee £2,000) plus Vat at the prevailing rate, of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed at the time of purchase. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
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To view this property or request more details, contact:

Churchfield Estate Agents, Bournemouth

122 Charminster Road, Bournemouth, BH8 8UT

03301 011254 Local call rate

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Property reference 359226. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Churchfield Estate Agents, Bournemouth. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.