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Land for sale

Gravel Lane, Ringwood

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Property Description

Full description

Investment opportunity. A purpose built block of 12 x 1 bedroom flats, built in 2009.

 

The investment includes 5 x flats and the freehold only. Flats included: Flat 3, 4, 6, 8 & 9, (Flats 3, 4 & 6 have parking & garden). Flats 3, 4 & 6 are let at £595.00 pcm and Flats 8 & 9 are let at £650.00 pcm. The flats are available to purchase separately at £135,000.00 each. The leases have 94 years to run at a ground rent of £200.00 p.a. each (A new 99 year lease is available if required). Total rental income £37,020 p.a. gross. This gives a return of 5.4% based on the asking price. 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. All the flats are currently let on AST's. The GDV for the block is approximately £715,000.00 based upon 5 x flats having a value of £135,000.00 and the freehold having a value of £40,000 based on the ground rent of £200.00 p.a. per unit. The flats have been finished to a good specification. For further details please Contact 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.

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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.

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