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Land for sale

Glenville Road , Christchurch

Sold by Us £425,000

Property Description

Full description

Tenure: Share of Freehold

Investment opportunity. This detached property can be purchased as a whole or in parts. The building is mixed commercial/residential.

The sections of the building that can be purchased separately are; First Floor, currently as 4 x self-contained compact studio flats and 1 x compact one bedroom flat: each flat has its own facilities apart from one studio which has a separate bathroom. I am advised that each studio produced £75.00 p.w (Once refurbished each unit should produce £110.00 p.w) and the one bedroom flat produces £135.00 p.w. (Once refurbished this unit should produce £155.00 p.w), Currently producing £22,620.00 p.a. gross (Once refurbished, the income should increase to £30,940.00 gross. Each of the flats requires refurbishing. Asking £195,000.00 L/H. Ground floor flat: Comprising living room/kitchen, 2 x bedrooms and a box room, bathroom and rear garden, requires refurbishing. Vacant. Asking £119,950.00 L/H. Garage/workshop (Pathway side access). Vacant. Asking £27,500.00 L/H. Shop with 2 x attached garages and forecourt (currently let at £8,750.00p.a. gross) let on a periodic lease outside the act (agreed a new licence of £10.000 p.a) Asking £145,000.00 L/H. I am advised that the shop and garages could be sold vacant if required. The property is situated on a corner position and within walking distance of shops and public transport. The freehold is available to purchase if sold as a whole. All L/H units to be sold with a new 125-year lease. This opportunity has not been updated for many years and now requires refurbishment throughout, I am advised that all rents have remained the same for a long period. 72 hours' notice is required for viewings on the First floor flats. For further information, please contact Andrew Hooper on 01202 779911. More development land and investments available on our web site:

Please note: 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

Listing History

Added on Rightmove:
26 August 2016

Map & Street View

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