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2 bedroom block of apartments for sale

Knoll Close Development, Burntwood PRICE ON APPLICATION

POA

Property Description

Full description

Tenure: Freehold

A tremendous opportunity to purchase an established residential, freehold development of 18 x two bedroom apartments providing an excellent rental income in excess of £90,000 per annum. Knoll Close is ideally situated in a popular residential area close to Ridgeway Primary School and is close to excellent transport links with easy access to the A5 and the M6 Toll. As a result of this and the type of accommodation the portfolio provides, the apartments are let at virtually full capacity all year round and are For Sale in its current highly tenanted status. With all properties being at such close proximity this portfolio lends itself to streamlined and cost effective property management making it an ideal investment and good profit bearer for professional landlords. The site also offers the buyer great potential for further development.

In brief, the Freehold site comprises of 3 separate apartment units as per the below specifications:

Unit A : 10 Apartments, numbers 12,14,16,18,20,22,24,26,28,30
5 Ground Floor Apartments with entrance door leading to hallway, doors off leading to a good sized double bedroom, next to the family bathroom comprising WC, Basin & Bath suite with good airing cupboard storage. Doors off the hallway also lead to fully fitted Kitchen opening into good sized lounge which also has its own entrance. Bedroom two located also off the main hallway is a good sized single bedroom . There are also two storage cupboards off the hall. Double glazed and electric heating. Directly opposite these apartments are lawned communal gardens.

Please refer to Floor plan A

5 First Floor Apartments with entrance door leading to hallway, stairs rising to first floor landing. Off landing is very good sized open plan living area opening into fully fitted kitchen. Further doors off into bathroom comprising WC, Basin and Bath suite with good airing cupboard storage. Further doors off lead to one double and one single bedroom with one good storage cupboard off landing. Double glazed and electric heating. Please refer to Floor plan B

Unit B: 6 Apartments, numbers 1,3,5,7,9,11
3 Ground Floor Apartments with communal area leading to apartment front door into hallway. Doors from hallway lead to large Lounge opening into fully fitted Kitchen, inner hallway has large storage area and further doors lead to Bathroom comprising WC, Basin, Bath and two bedrooms. Communal gardens to rear. Please refer to Floor plan C.

3 First Floor Apartments with communal entrance door, leading to stairs to first floor landing and front door. Apartment comprises two good sized Bedrooms, Bathroom, Lounge and fully fitted Kitchen. Double Glazed and electric heating.

Unit C: 2 Apartments, numbers 32 & 34
Ground and first floor apartment with similar layouts and comprising of large living/dining room, separate fully fitted kitchen, bathroom with WC, basin and bath and two good sized bedrooms with built in wardrobes. There is also a good storage cupboard off the hallway in both apartments and the ground floor apartment benefits from its own private garden. Please refer to Floor Plans D & E.

OTHER NOTES
This portfolio is offered with 70% of the site having been fully renovated to a good standard. 30% of the site is in need of some modernisation.

There is ample and unrestricted resident and visitor parking.

The portfolio and its tenants benefit from on site Convenience Store/Newsagents (which is not offered For Sale).

More information from this agent

To view this property or request more details, contact:

Chattings, Lichfield

16 Bore Street, Lichfield, WS13 6LL

01543 257800 Local call rate

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