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Studio flat for sale

Watts Drive, Shepshed

Sold STC £569,700

Property Description

Key features

  • Residential Investment Opportunity
  • Producing 35,520 Fully Let
  • 6 Self-Contained 2 Bed Flats
  • Each with Designated Parking
  • 10 Year NHBC Guarantee Residue
  • Will Split & Sell Individual Units

Full description

MODERN RESIDENTIAL INVESTMENT OPPORTUNITY WITH OVER 6% YIELD. A rare opportunity to acquire 6, well appointed, two bedroomed (4 with en-suites), self-contained apartments producing £35,520 per annum when fully let, set within an exclusive residential development by well known local developers, Cadeby Homes, fronting Brook Street, Shepshed and offering electric centrally heated, sealed unit double glazed accommodation with each flat enjoying one designated off-road parking space. Will split and sell individual units.

General Information: - The small town of Shepshed is situated in north-west Leicestershire on the edge of the Charnwood and National Forests and is well known for its popularity in terms of convenience for ease of access to the motorway network, major centres of employment at Leicester, Ashby-de-la-Zouch, Derby, Nottingham and Loughborough, the East Midlands International Airport at Castle Donington and the new railway station at East Midlands Parkway with its direct connections to Sheffield/Leeds in the north and London in the south.

Shepshed is a popular location ideally placed for access to the University town of Loughborough, with its fine range of amenities, and junction 23 of the M1 motorway. Shepshed itself has a thriving centre with a number of shops, pubs and restaurants as well as recreational pursuits and local schooling.

General Description: - Constructed by well known local builders, Messrs. Cadeby Homes Ltd., and enjoying the residue of a 10 year N.H.B.C. Guarantee, the sale of these six apartments within Brook Court provides an excellent opportunity for investors to acquire a fully let residential scheme currently producing £35,520 per annum.

This exclusive development of two blocks of apartments and five detached houses is situated on Watts Drive, off Brook Street, close to the centre of the town.

The six apartments to be sold all benefit from electric central heating, sealed unit double glazing and designated off-road parking. Two of the apartments are in Block A and four in Block B. The apartments are of two different property types known as "The Bonnington" (two bedroomed apartment with en-suite), and "The Hoton" (two bedroomed apartment).



Detailed Accommodation: - The two different property types offer the following accommodation:

"The Bonnington" - FLATS 12, 15, 17, & 18 IN BLOCK B.

These two bedroomed apartments offer accommodation including living room (11'10 x 9'10), fitted kitchen (9'10 x 6'10) with equipment including oven, hob and hood, together with built-in fridge\freezer and washer\dryer, dining area (7'3 x 6'10 max.), bedroom 1 (10'6 plus wardrobe recess x 8'10) with built-in wardrobes, en-suite shower room with three-piece suite comprising shower cubicle, wash hand basin and w.c., bedroom 2 (10'6 x 7'6) and principal bathroom with three-piece suite comprising bath or shower, wash hand basin and w.c.

"The Hoton" - FLATS 2 & 6 IN BLOCK A.

These two bedroomed apartments offer accommodation including hallway, lounge\dining room (17'3 x 10'10), fitted kitchen (10'6 x 5'10) with equipment including oven, hob and hood, together with in-built fridge\freezer and washer\dryer, bedroom 1 (13'9 x 9'10) with built-in wardrobes, bedroom 2 (11'9 max. x 8'10) with built-in wardrobes and bathroom with three-piece suite comprising bath or shower, wash hand basin and w.c.

Outside: - All units benefit from designated off-road parking for one vehicle.

Schedule Of Rents: - 2, Watts Drive, Shepshed, Rent £495.00 pcm, House Type "Hoton"
6, Watts Drive, Shepshed, Rent £450.00 pcm. House Type "Hoton"
12, Watts Drive, Shepshed, Rent £525.00 pcm, House Type "Bonnington"
15, Watts Drive, Shepshed, Rent £500.00 pcm, House Type "Bonnington"
17, Watts Drive, Shepshed, Rent £495.00 pcm, House Type "Bonnington"
18, Watts Drive, Shepshed, Rent £495.00 pcm, House Type "Bonnington"



Tenure - The apartments are held Leasehold on a 125 year Ground Lease at a Ground Rent of £50.00 per annum. There is a Service Charge for each apartment to cover the cost of cleaning of communal parts, window cleaning, electricity supply and repair of communal parts, Buildings Insurance, gardening and a contribution to a reserve fund. As an example - Flat 2's contribution for the period November 2015 to November 2016 will be £813.28 or £67.77 per calendar month.

Fixtures And Fittings: - All fixtures and fittings mentioned in the sales particulars are included in the sale.

Viewing: - Strictly through Moore & York Ltd., who will be pleased to supply any further information required and arrange appropriate appointments.

Making An Offer: - As part of our service to our Vendors, we have a responsibility to ensure that all potential buyers are in a position to proceed with any offer they make and would therefore ask any potential purchaser to speak with our Mortgage Advisor to discuss and establish how they intend to fund their purchase. Additionally, we can offer Independent Financial Advice and are able to source mortgages from the whole of the market, helping you secure the best possible deal and potentially saving you money.

If you are making a cash offer, we will ask you to confirm the source and availability of your funds in order to present your offer in the best possible light to our Vendor.

Important Information: - Although we endeavour to ensure the accuracy of property details we have not tested any services, heating, plumbing, equipment or apparatus, fixtures or fittings and no guarantee can be given or implied that they are connected, in working order or fit for purpose. We may not have had sight of legal documentation confirming tenure or other details and any references made are based upon information supplied in good faith by the Vendor.

Please would you contact Moore & York to check the availability of any property and make a viewing appointment via ourselves before embarking on any journey to see a property to avoid disappointment.

Directions - Shepshed is best approached from Junction 23 of the M1 motorway (the Loughborough intersection). From the intersection, proceed west towards Ashby-de-la-Zouch via Ashby Road East, then take a right turn into Charnwood Road. Continue until reaching the mini-island and take the first exit left into Field Street which becomes Britannia Street. At the next mini-roundabout, turn right into Brook Street. Follow the road around to the left and eventually Watts Drive can be found on the right hand side.

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Listing History

Added on Rightmove:
04 April 2016

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