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2 bedroom block of apartments for sale

Grosvenor Place , Margate

Sold STC £179,000

Property Description

Key features

  • Investor alert
  • 2 Bed & 1 Bed flat
  • Parking to the rear
  • Freehold included
  • 5.9% Yield

Full description

CALLING ALL INVESTORS! CURRENTLY PRODUCING A YIELD OF APPROX 5.9% THIS IS A PERFECT OPPORTUNITY TO PURCHASE THE FREEHOLD OF THE WHOLE BUILDING ALONG WITH TWO OF THE THREE FLATS. The lower ground floor flat and top floor flat are both currently tenanted producing £10,500 per year. The middle flat was sold some time ago and has 67 years remaining on the lease so a chargeable lease extension is possible in the future and also contributes 1/3 towards the annual charges and maintenance costs. The top flat is a two bedroom flat with a parking space to the rear, whilst the lower ground floor flat is a one bedroom, both currently let on AST.


1 Bedroom Currently let on a AST for £375 pcm

Middle Flat

Sold but has 67 years remaining on the lease

Top Flat

2 bedroom flat with parking space to rear - currently let on a AST for £500pcm

More information from this agent

Listing History

Added on Rightmove:
05 May 2016

Map & Street View

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