Mersea Road, Colchester

An investment opportunity to purchase a property currently producing £32,0000 gross a year, yielding 10.8% per annum gross to students, situated close to the town centre.

Description - This is an excellent opportunity to purchase a well-managed investment property that has been continuously rented for 25 years. It currently generates a gross income of approximately £32,000 per year from an 11 month student tenancy, resulting in a gross yield of 10.8%.

The property features accommodation spread over three floors: the ground floor includes a kitchen, bathroom, and two rooms; the first floor has three rooms, a study, a shower room, and a cloakroom; and the second floor contains an additional room.

Location - The property is conveniently located near the city centre of Colchester, where you can find a variety of shops, restaurants, and numerous amenities. It is also close to the Town railway station, which provides a fast and frequent service to London, taking approximately 46 minutes. The University is easily accessible via the bus (from Town railway station to the University, taking about 22 minutes) alternatively the Colchester Institute on Sheepen Road is in easy reach.

Entrance Hall - stairs to first floor

Study Bedroom One - 3.73m x 3.48m (12'3 x 11'5) - Bay window to front

Study Bedroom Two - 4.04m x 3.12m (13'3 x 10'3) - Window to rear, wash hand basin.

Kitchen - 4.55m x 3.05m (14'11 x 10) - Window to side, wooden units incorporating a stainless steel sink unit and single drainer with cupboards under. Further work surfaces with cupboards and drawers under and a four ring electric hob and oven under, eye level units and gas fired boiler.

Bathroom - 3.05m x 1.80m (10 x 5'11) - Window to side, panelled bath, low level wc and wash hand basin.

Landing - Stairs to second floor

Study Bedroom Three - 4.22m x 3.78m (13'10 x 12'5) - Window to side

Study Bedroom Four - 3.99m x 2.67m (13'1 x 8'9) - Window to front

Study Bedoom Five - 3.05m x 2.77m (10 x 9'1) - Window to side, wash hand basin.

Study - 2.67m x 1.96m (8'9 x 6'5) - Window to front, wash hand basin.

Shower Room - Window to side, shower cubicle, low level wc, wash hand basin.

Cloakroom - Window to side, low level wc

Second Floor -

Room Six - 5.64m x 1.65m (18'6 x 5'5) - Window to front and Velux window to side.

Outside And Gardens - There are steps leading to the front door. The rear garden is accessed via the kitchen and has a covered lean-to, that in turn leads to a paved courtyard style area at the back with a large lawned garden enclosed by a brick wall.

Agents Note - Services: Mains water, electricity, gas and drainage are connected to the property and gas central heating.
Tenure: Freehold
Local Authority: Colchester City Council
Council Tax: Band B
EPC: Band D

Licenced HMO
Potential to extend.
Available to purchase as a furnished tenanted property or with vacant possession.