12 bedroom block of apartments for saleLansdown Terrace, Cheltenham
Sold STC £1,200,000
A rare opportunity to acquire a prime residential investment property just a stone's throw from Montpellier. Listed Grade II*, this fine stone fronted terraced townhouse is divided into seven units and is to be sold as a going concern with the tenants to remain in situ.
Description - A rare opportunity to acquire a prime residential investment property just a stone's throw from Montpellier. Listed Grade II*, this fine stone fronted terraced townhouse is divided into seven units and is to be sold as a going concern with the tenants to remain in situ.
A substantial brick built, ashlar stone-fronted, mid-terrace townhouse, with deep sash windows, under a slate covered roof. Divided into seven well maintained and self-contained apartments (including a one bedroom coach house) it benefits from off road parking to the front and a communal courtyard with pedestrian access to the rear. The condition of the apartments is at a standard suitable for letting purposes.
The interest to be sold is freehold and is subject to the following monthly rental figures, as at April 2016.
Ground Floor Flat, Front - £595.00
Ground Floor Flat, Rear - £525.00
First Floor Flat - £710.00
Second Floor Flat - £716.00
Third Floor Flat - £715.00
Flat 1, 3A (Coach House) - £525.00
Flat 2, 3A (Coach House) - £675.00
3 & 5 Lansdown Terrace are situated in a fashionable area in Malvern Road, one of Cheltenhams most sought after and well known boulevards. Located within striking distance of the Promenade and the shops, bars, restaurants and boutiques in Montpellier, Lansdown Terrace also offers excellent access to Waitrose, GCHQ and the M5 motorway network.
The estate was largely completed between 1831 and 1848 under the supervision of the Jearrad brothers, two architects who transformed the original plans and were responsible for creating the immense convex Lansdown Crescent as well as Lansdown Terrace and Lansdown Parade. Primarily built in brick with dressed stone frontages, these large family houses epitomise 19th Century Cheltenham with its wealthy leisured class. Many of the properties have been converted into apartments as the original houses were deemed too large for modern family living.
Mains water, electricity, gas and drainage are connected to the properties.
Strictly by prior appointment through Charles Lear & Co. on 01242 222722.
All of the self-contained apartments are presently managed by Morgan Associates, Cheltenham on 01242 514285.
We understand that all apartments are let on assured shorthold tenancy agreements.
The freehold interests are available to purchase individually or as a pair.
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