Commercial Property for saleEgerton Court, Barrow In Furness
WE ARE PLEASED TO OFFER FOR SALE THIS BLOCK OF 56 FLATS. THE BLOCK BRIEFLY COMPRISES OF 28 ONE BEDROOM FLATS AND 28 TWO BEDROOM FLATS.
FOR FURTHER INFORMATION REGARDING THE RENTAL INCOME PLEASE CONTACT RORY. THERE IS ROOM FOR AN UP LIFT IN THE RENTS AS THE RENTS ARE CURRENTLY BELOW THE LHA RATE FOR THE AREA. IF THE RENTS WERE OPTIMISED THE YIELD WOULD INCREASE TO 14.17%. PLEASE SEE ATTACHED SHEET DETAILING LOCAL LHA RATES.
THERE IS CURRENTLY A BUILDING MANAGER ON SITE WHO DEALS WITH RENT COLLECTION, MAINTENANCE ISSUES AND THE GENERAL DAY TO DAY RUNNING OF THE FLATS. HE IS LOOKING TO STAY ON AT THE PROPERTIES IF POSSIBLE AND WOULD BE A GREAT ASSET FOR ANY NEW BUYERS.
THE PROPERTY IS ON A 125 YEAR LEASE AND THE GROUND RENT IS £250.00 PER ANNUM PER FLAT.
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