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SOLD STC

Templar Mews, Gainsborough, Lincolnshire, DN21

£650,000
Added on 06/03/2018
Musson Liggins Limited, Nottingham
PROPERTY TYPE
Block of Apartments
SIZE
5,278 sq. ft.
(490 sq. m.)

Key features

  • Town Centre Location
  • Income Producing Investment Property
  • 11 Tenanted Flats
  • Annual Rental Income - £44,700
  • Gross Yield of 6.88%.
  • Reclaimed Brick Façade
  • Completed c. 2007

Property description

Tenure: Freehold

Location
The property is located with a frontage to Church Street just to the north of the main market place in Gainsborough.
The immediate surrounding environs of Gainsborough are rural or semi-rural and a substantial number of smaller villages are within close proximity.
Gainsborough is situated on the River Trent within the West Lindsey District of Lincolnshire. The town benefits form the popular retail complex of Marshalls Yard and is approximately 8 miles north west distance to Robin Hood Airport

Description
The subject property comprises a single 2/3 storey block of flats which was completed circa 2007 and comprising internally of 3 independent blocks with a total of 11 residential flats; 3 x 3 bedrooms, 4 x 2 bedroom, and 4 x 1 bedroom.

The property includes a reclaimed brick façade to the front elevation, emulating the building which formerly occupied the site.

The properties internally provide a different range of sizes, although they are similar in nature and generally include an entrance hall, living/dining kitchen, either 1, 2 or 3 bedrooms and a family bathroom.

No allocated car parking is available

Council Tax
All Flats in Templar Mews are Band A £1,121.73 per annum

Price
£650,000

Terms
The premises are available for sale Freehold with the benefit of the existing Assured Shorthold Tenancies.

Existing Tenancies
The premesis are let by way of 11 separate ASTs ranging from £300-£350 pcm which therefore provides a total annual income of £44,700 per annum.

This therefore represents a gross yield of 6.88%.

VAT
Unless stated all prices are quoted exclusive of Value Added Tax (VAT).

Legal Costs
Each party will be responsible for their own legal costs incurred in this transaction.

Energy Efficiency Rating
A copy of the Energy Performance Certificate is available upon request.

Services
We understand that mains electricity, water and drainage are connected to the premises. However, we recommend that interested parties contact the relevant service providers to confirm this.

Viewing
Strictly by prior appointment through the sole letting agents, Musson Liggins.

Brochures

BROCHURE

Templar Mews, Gainsborough, Lincolnshire, DN21

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Gainsborough Central Station0.4 miles
  • Gainsborough Lea Road Station1.2 miles
Mortgages
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Market information
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About the agent

Musson Liggins Limited, Nottingham

30 Clarendon Street Nottingham NG1 5HQ

Musson Liggins Limited, Nottingham

The Company was established in 1987 by Stephen Musson and Matthew Liggins. It is a Nottingham City Centre based Practice but acts for clients, corporate and private, throughout the United Kingdom and Ireland.

Musson Liggins is a General Practice Surveying firm providing a comprehensive range of both conventional and specialist property services. Each Director specialises in widely differing areas of expertise, ably supported by a strong, in depth surveying team along with highly compete

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Disclaimer - Property reference TemplarMewsGainsbro. 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 Musson Liggins Limited, Nottingham. 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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