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3 bedroom flat for sale

Scinde Crescent, Shanklin, Isle Of Wight, PO37

Withdrawn from Market £205,000

Property Description

Key features

  • Investment Opportunity
  • Two Flats
  • Freehold
  • One Bed Garden Flat
  • Two Bed First Floor Flat
  • Brilliant Investment
  • Double Glazed
  • Central Heating
  • Suitable For Holiday Lets
  • Garden

Full description

Tenure: Freehold

The Property
***Investment Opportunity***
The rare opportunity has arisen to purchase this freehold of two flats in a Victorian period property. It is two units, with separate and private entrances and was converted sympathetically some years ago, maximising space, whilst maintaining the character of the building. The current owner has lived in the first floor flat for many years and then purchased the ground floor flat, with the freehold since. The garden has been recently refurbished to a high standard, with a view, originally, to appeal to the rental market, but has decided to test the market with a view to selling both to an investor who wants a ready-made investment opportunity that has the potential to yield an income higher than that offered in conventional savings accounts. The garden flat has one bedroom, living room, kitchen / diner, utility room, bathroom and a private rear garden. It would be ideal for holiday lets and could achieve between £400-£700 per week during the holiday season or a long term let would see it achieve between £475-£550 per month. The first floor flat has two bedrooms, is beautifully presented and again is ideal for the holiday let market, achieving between £600-£800 per week during high season and in the long term rental market it would achieve a rent of between £600-£700 per month. This is a brilliant chance for a budding investor to put their eggs in one simple basket and with this freehold property being recently renovated and decorated, maintenance will not be an issue for years to come.

An EPC for each flat will be available on request.

Please contact to obtain a copy.

Seller’s Comments
I have lived in the first floor flat for more than twelve years and have enjoyed the property and its location enormously. I took the opportunity to purchase the garden flat with the freehold of the building when the previous occupant decided to sell, with a view to renting it out as a second source of income, so have renovated it to a high standard and have had the utilities updated and tested, with the provision of landlord safety certificates, which I would be happy to pass on to the new owner. A change of circumstances means that I am looking to consolidate my assets into a larger family home, so am selling both properties in order to do so. I believe that this would be an ideal opportunity for someone looking for an investment with good return or someone who wants to live in one of the flats, whilst using rental from the other as an income.

More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
18 August 2014


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