Conington Lane, Conington, Cambridgeshire.
- PROPERTY TYPE
Block of Apartments
- SIZE
6,085 sq ft
565 sq m
- 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
- A Freehold block of eight apartments.
- Imperious former Manor House.
- Potential for improvement and further development, subject to consent (Overage clause applies)
- A combined income of £47,772 per annum.
- A Total plot size of 0.6 acres or thereabouts.
- Village location with lovely countryside views.
- Seven of the flats are currently tenanted under Assured Shorthold Tenancy Agreements, one is rented under a Protected Shorthold Tenancy Agreement.
- Retirement sale, offered with no forward chain.
- 13 miles to Peterborough / 12 miles to Huntingdon.
- Plenty of driveway parking.
Description
A unique opportunity to acquire a freehold block of eight apartments, under one title, sited in a village location with open countryside surrounding.
Although a peaceful setting, the A1 is just a short 5 minute drive away providing access North or South with Huntingdon and Peterborough both a 15 to 20 minute drive away. The local village of Sawtry or Hampton provides closer amenities, schools and shops.
Sited on a plot approaching 0.6 acres, there is potential for further development or improvement of the existing building, subject to consent.
A turnkey investment for serious investors, this opportunity provides an instant yield in excess of 6% and is offered with no onward chain.
GROSS INTERNAL FLOOR AREA
The Gross Internal Floor Area for the building is approximately 6085 sq.ft / 565 sq.metres (Inclusive of the basement, communal areas and laundry)
SITE AREA
The site area is approximately 0.6 acres or thereabouts. The site is subject to an overage clause for a 30 year period should any additional residential development be gained.
INCOME
Seven of the flats are currently tenanted under Assured Shorthold Tenancy Agreements, one is rented under a Protected Shorthold Tenancy Agreement, achieving a combined rental income of £47,772 per annum.
The rents are inclusive of water rates however each flat has their own electricity meter.
The electricity for the communal areas is included on Flat 5's meter, estimated at approximately £100 pcm.
FLAT 1
A two bedroom ground floor flat of 74 sq.metres / 796 sq.ft.
EPC: E.
FLAT 2
A first floor two bedroom flat of 53 sq.metres / 570 sq.metres.
EPC: E.
FLAT 3
A two bedroom, duplex, flat of 85 sq.metres / 914 sq.metres.
EPC: D.
FLAT 4
A ground floor studio apartment of 32 sq.metres / 344 sq.metres.
EPC: E.
FLAT 5
A one bedroom ground floor apartment of 38 sq.metres / 409 sq.metres.
EPC: E.
FLAT 6
A ground floor apartment of 81 sq.metres / 871 sq.metres.
EPC: D.
FLAT 7
A first floor two bedroom apartment of 59 sq.metres / 635 sq.ft.
EPC: D.
FLAT 8
A one bedroom first floor apartment of 60 sq.metres / 645 sq.ft.
EPC: E.
BASEMENT
A basement of 551 sq.ft / 51 sq.metres.
EXTERNAL
Sited on a plot of 0.6 acres or thereabouts the building is approached via a large driveway to the front providing parking for numerous vehicles.
There are gardens primarily to the side with a courtyard to the rear and side. Some trees on site have a preservation order on.
TENURE
Although each flat has a separate postal address they are all registered under one Freehold title as sold as such.
SERVICES
The flats are heated via individual electric heaters and served via mains drainage, water and electricity.
OVERAGE AGREEMENT
The vendor intends to sell the site subject to an overage agreement. The proposed overage agreement will entitle the vendor to 30% of any uplift in value for a period of 30 years from any further residential development of the land.
STATUS
The Property is not listed and not sited in a conservation area. There are trees on the site that have a preservation order on.
LOCATION
Conington is a small picturesque Village located close to Sawtry which benefits from many amenities including Junior and Secondary Schools, a Leisure Centre and a variety of shops in addition to a Co-op supermarket. Hampton and Yaxley are a short drive away with further amenities, schooling and shops.
It lies between Huntingdon and Peterborough where fast railway travel links to London and the north, and easy access is available to the A1/A14 road network.
AGENTS NOTES
These particulars whilst believed to be correct at time of publishing should be used as a guide only. The measurements taken are approximate and supplied as a general guidance to the dimensions, exact measurements should be taken before any furniture or fixtures are purchased. Please note that Oliver James Property Sales and Lettings has not tested the services or any of the appliances at the property and as such we recommend that any interested parties arrange their own survey prior to completing a purchase.
MONEY LAUNDERING REQUIREMENTS
In order to progress a sale, Oliver James will require proof of identity, address and finance. This can be provided by means of passport or photo driving licence along with a current utility bill or Inland Revenue correspondence. This is necessary for each party in joint purchases and is required by Oliver James to satisfy laws on Money Laundering.
- 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.
- Ask agent
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
Conington Lane, Conington, Cambridgeshire.
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Visit our security centre to find out moreDisclaimer - Property reference 663b92d7-3275-49aa-99ac-cc8d02754fc0. 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 Oliver James, Huntingdon. 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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