3 Fort Paragon, Margate
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- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- High Yielding Residential Block Investment
- Comprises 5 x Self-Contained One Bedroom Flats
- Fully Let on Separate ASTs
- Evident Asset Management Potential
- ERV Approx £50,000 p.a.
- Large Rear Garden with Development Potential (stc)
- Popular Location with Sea Views
- Investment Let at £41,100 p.a. (9.1% GIY on Guide Price)
Description
Arranged across ground, lower ground and three upper floors, the property comprises five self contained one bedroom flats.
The flats are fully let on separate Assured Shorthold Tenancies (ASTs) to private individuals producing a total £41,100 per annum. We consider the property offers asset management potential via improvement of rent, with several flats producing rents lower than others within the block.
-Flat 1 - £625 pcm - £7,500 per annum
-Flat 2 - £800 pcm - £9,600 per annum
-Flat 3 - £725 pcm - £8,700 per annum
-Flat 4 - £725 pcm - £8,700 per annum
-Flat 5 - £550 pcm - £6,600 per annum
The property includes a large rear garden which may be suitable for development (subject to tenancies and obtaining the requisite consents), either to extend the property at the rear or carry out a separate development. Several adjacent buildings have already been extended at the rear to various degrees.
The property occupies a highly desirable location fronting Margate Winter Gardens with sea views. The property is also well located for the amenities of Margate, with Northdown Road approx 0.2 miles away, 0.3 miles to Margate Old Town and 0.9 miles to Margate Station.
Brochures
3 Fort Paragon, Margate
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Margate Station0.8 miles
- Westgate-on-Sea Station2.3 miles
- Broadstairs Station2.9 miles
Notes
Disclaimer - Property reference 2F4E8624-1B7E-450F-934E-FA7C86AC7AC0. 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 Savills, Savills Auctions- Commercial. 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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