Collingham, Newark

Freehold investment opportunity 147 and 149 Low Street, 6 and 7 Brooklands close, Collingham, Newark, NG23 7NN producing a gross income of £21,600 per annum. Offers in the region of £425,000.

Freehold investment opportunity 147 and 149 Low Street, 6 and 7 Brooklands close, Collingham, Newark, NG23 7NN producing a gross income of £21,600 per annum. Offers in the region of £425,000.

A freehold residential investment comprising three self contained flats subject to assured short hold tenancies and a freehold flat subject to a leasehold interest with 88 years unexpired. The flats each provide spacious accommodation with varying room sizes. There is a garden and a garage block with potential for development subject to planning permission. The gross income is £21,600 per annum.

The property is situated within the Collingham conservation area. There are high value properties within the immediate facility. Local amenities including a primary school, co-op store, local shops, a medical centre and a railway station are conveniently situated within walking distance of the property.

147 Low Street, Collingham comprises a ground floor two bedroom flat let on an assured shorthold tenancy.

149 Low Street, Collingham comprises a ground floor one bedroom flat let on an assured shorthold tenancy.

6 Brooklands Close, Collingham comprises a first floor two bedroom flat let on an assured shorthold tenancy.

7 Brooklands Close, Collingham is a first floor two bedroom flat subject to a long leasehold interest.

The property comprises a three storey house converted circa 1980 into four self contained flats. The property has a front garden are allocated to 147 Low Street and a return frontage to Brooklands Close. A block of four lock up garages and an area of land to the north of the garages is included in the freehold sale.

The property is traditionally built with red brick elevations and bays under the main roof sections with Welsh slates. There is an external staircase to the first floor flats constructed with a brick balustrade and concrete steps. There are two Dorma windows incorporated within the second floor accommodation. The garages are a pre fabricated construction.

Accommodation:

147 Low Street, Collingham - A ground floor flat with front garden.

Entrance Hall - With paneled front entrance door and radiator.

Living Room - 5.03m x 4.42m (16'6 x 14'6 ) - (measured into the bay window)

Radiator and fireplace.

Kitchen Area - With base cupboards, wall cupboards, working surfaces and sink unit.

Bedroom One - 3.66m (12'12 ) - (measured into bay window)

Radiator

Bedroom Two - 3.66m x 2.44m (12' x 8' ) - Radiator

Bathroom - With bath, basin and low suite WC.

Outside - Front garden and separate access to Low Street .

149 Low Street, Collingham - A ground floor flat, access from Brooklands close.

Ground Floor -

Entrance Hall - With single glazed door to the garden. Radiator.

Living Room - 4.57m x 3.63m (15' x 11'11 ) - Built in cupboard, two single glazed box sash windows, radiator.

Kitchen - 3.56m x 1.83m (11'8 x 6' ) - Wall cupboards, base units, working surfaces, stainless steel sink unit, gas hob and electric oven.

Bedroom - 4.60m x 3.43m (15'1 x 11'3 ) - Double paneled radiator.

Bathroom - 2.67m x 1.98m (8'9 x 6'6 ) - Bath, basin, low suite WC, radiator, built in cupboard with Glow Worm gas fired central heating boiler.

Outside - Enclosed garden, part paved and part tarmac surface.

6 Brooklands Close, Collingham - A first floor flat (approached by an external flight of concrete steps shared with 7 Brooklands Close).

First Floor -

Entrance Lobby - With storage cupboard.

Lounge - 4.11m x 4.06m (13'6 x 13'4 ) - Box sash window, two radiators.

Kitchen - 3.48m x 2.11m (11'5 x 6'11) - Wall cupboards, base units, working surfaces incorporating a stainless-steel sink unit. Freestanding oven, radiator and cupboard containing gas fired central heating boiler.

Lobby -

Bathroom - 2.79m x 1.57m (9'2 x 5'2) - Bath, basin, low suite WC, fully tiled walls, radiator.

Second Floor -

Landing - With built in wardrobe.

Bedroom One - 4.88m x 3.00m (16' x 9'10) - Dormer window, radiator.

Bedroom Two - 3.25m x 2.13m (10'8 x 7') - Dormer window, radiator.

7 Brooklands Close, Collingham - A first floor, two bedroomed flat subject to a long leasehold interest.

Services - Each property has mains water, electricity, gas and drainage connected.

Tenure - The property is freehold. Land registry title number NT398207

7 Brooklands Close
* Subject to a lease dated 10th May 1988 for a term of 125 years
* Ground rent £30 per annum with reviews every 25 years
* The lessee is responsible for 50% of any repair cost to the external staircase
* The lessee is responsible for 2/5 of the cost of insuring the building
* The lessee is responsible for 2/5 of the costs detailed in the fith schedule of the lease to include maintenance and structural repairs
* The lessor is responsible for insuring the building and the repair and decorational common parts
* There are 88 years remaining unexpired on the lease

147 Low Street
* Let on an assured short hold tenancy commencing May 2025
* Rent £695 per calendar month

149 Low Street
* Let on an assured short hold tenancy from July 2022
*Rent £550 per calendar month
* Last rent increase April 2025

6 Brooklands Close
* Let on an assured short hold tenancy from December 2022
* Rent £525 per calendar month
* Last rent increase December 2024

Possession - Vacant possession will be given on completion.

Viewing - Strictly by appointment with the selling agents.

Mortgage - Mortgage advice is available through our Mortgage Adviser. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Council Tax - 147 Low Street comes under Newark and Sherwood District Council Tax Band A
149 Low Street comes under Newark and Sherwood District Council Tax Band A
6 Brookland Close comes under Newark and Sherwood District Council Tax Band A
7 Brookland Close comes under Newark and Sherwood District Council Tax Band A