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Land for sale

Gravel Lane, Ringwood

Offers in Region of £1,585,000

Property Description

Full description

Tenure: Freehold

Investment opportunity. A purpose-built two story block of 12 x 1 bedroom flats with 5 x parking spaces and communal gardens. Built in 2009. I am advised that all of the flats are currently let on AST's at £650.00 pcm.


Total rental income is £93,600.00 p.a. gross. This gives a return of 5.85% based on the asking price. I am advised that the flats come with individual leases which have 91 years remaining (April 2017) at a ground rent of £250.00 p.a. each. The building is situated in a semi-rural location and is within a short drive of Ringwood town center with its wide range of shops, bus and car links to Bournemouth and London. The GDV for the block is approximately £1,685,000.00 if the flats were to be sold off separately. The freehold has an estimated value of £65,000.00 based on the current ground rents. I have been advised that the flats have been finished to a good specification, not seen. On the original plans there was an attached conservatory, I am told that the conservatory was erected and then removed to make this building detached. For further details please Contact Rob Smith or Andrew Hooper. More development and investments on our web site www.churchfield.uk.com


Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) 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 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. 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.


Churchfield Offer a FREE Selling Service to Vendors of Land and Investments


Nearest station

  • Hinton Admiral (7.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Churchfield Estate Agents, Bournemouth

122 Charminster Road, Bournemouth, BH8 8UT

03339 873377 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Hinton Admiral (7.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Churchfield Estate Agents, Bournemouth

122 Charminster Road, Bournemouth, BH8 8UT

03339 873377 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 9312. 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.

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