West Street, Buckingham, MK18 1HL
- BEDROOMS
5
- BATHROOMS
4
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Investment 4 Residential Flats (All Let)
- Investment Two Commercial Shops and Offices (One Let)
- Gross Yield (When Occupied) 8%
- 3,936 Square Feet Floor Area
- Grade II Listed Georgian Building
- Scope to Enhance Property and Return
- Prominent Buckingham Town Centre Location
- Virtual Tour On Line
Description
*** Freehold Investment *** Town centre, mixed-use, residential, and commercial investment offering a good current yield with scope for enhancement and a rent increase. The property comprises a Georgian, Grade II listed building in Buckingham town centre with four residential apartments, all let and two commercial units (one let). The investment when fully occupied is likely to generate in excess of an 8% gross yield. There are four apartments (three one-bedroom and one two-bedroom).
Commercial Unit 4 West Street
Currently used as a take away and is let on a licence
Commercial Unit 5 West Street
Commercial unit with storage and three separate offices to the rear. Currently unoccupied previously let at £12,000 per annum. There is a large amount of cellar storage with potential.
Flat 1, 5 West Street
1 bedroom first-floor apartment, front facing with Let on an Assured Shorthold Tenancy the existing tenant has lived here for many years.
Flat 2, 5 West Street
Character first-floor apartment, with mezzanine bedroom. The flat is currently let on an assured shorthold tenancy.
Flat 3 5 West Street
First-floor rear-facing one-bedroom apartment with a separate kitchen and shower room. The property is let on an assured shorthold tenancy.
Flat 4, 5 West Street
Top Floor two-bedroom apartment with sitting room, kitchen, and two bedrooms, full of beams and character. The property is let on an assured shorthold tenancy.
Investment Detail Rental Amounts and Yield
The residential aspect currently generates income as follows:
Flat 1 £4800 pa
Flat 2 £7800 pa
Flat 3 £7140 pa
Flat 4 £8280 pa
Combined the residential units are generating £ 28,020
Commercial unit 4 is let at £8,000 pa on a licence for
Commercial unit 5 is expected to achieve £12,000 pa
Fully occupied the investment would show an income of £48,020 pa a gross rental yield of 8%
Council Tax
The four flats are all Band A and the current amounts payable by tenants are £1,440.10 year 2022/2023
Business Rates
To follow
Yard
Small yard to rear with a communal metal fire escape. Gated rear access.
Parking - On Road
As a town centre property, there is no dedicated parking with the property.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- On street
- GARDENA property has access to an outdoor space, which could be private or shared.
- Private garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
West Street, Buckingham, MK18 1HL
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About Lafford James, Milton Keynes
Luminous House, 300 South Row, Milton Keynes, MK9 2FR
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Visit our security centre to find out moreDisclaimer - Property reference 837c3c0e-faf7-41d9-8edb-3dc5d24fe3c0. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Lafford James, Milton Keynes. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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