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Property Description

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Investment opportunity. A detached building, now recently fully converted into 7 x 1 bedroom flats. (The ground floor of the building has been sold to the Co-op. The Co-op rental income is NOT Included. The investment is for the flats only, flats situated on the first and second floors. I am advised that the flat investment has a new head lease (Lease until 9.07.3014) with a ground rent of £250.00 p.a. (copy of lease available for inspection).


The flats are reached via a rear external galvanized stairway, which leads directly to the first floor communal door with entry phone system. Flat 1 comprises of, Open plan living room/kitchen 18'2'' x 11'6'' (5.54 mt x 3.53 mt), Bedroom 11'7'' x 8'11'' (3.56 mt x2.47 mt), Shower Room. Flat 2 comprises of, Open plan living room/kitchen 19'2'' x 15' (5.85 mt x 4.57 mt), Bedroom 12' x 11'10'' (3.65 mt x 3.38 mt), Shower Room. Flat 3 comprises of, Open plan living room/kitchen 14'7'' x 14' 2'' (4.48 mt x 4.32 mt), Bedroom 13' into recess x 9'7'' (3.96 mt x 2.95 mt), Shower Room. Flat 4 comprises of, Open plan living room/kitchen 19'2'' x 12'5'' (5.85 mt x 4.96 mt), Bedroom 15'3'' x 9'5'' (4.66 mt x 2.89 mt), Shower Room. Flat 5 comprises of, L shape Open plan living room/kitchen 19' x 16'3'' (5.79 mt x 4.96 mt), Bedroom 14'8'' x 12' (4.51 mt x 3.65 mt) low level eve celling, Shower Room. Flat 6 comprises of, Open plan living room/kitchen 18'2'' x 13' (5.54 mt x 3.96 mt), Bedroom 14'7'' x 9'8'' (4.48 mt x 2.98 mt) widening to 11'7'' (3.56 mt), Shower Room. Flat 7 comprises of, Open plan living room/kitchen 22' x 14'6'' (6.7 mt x 4.45 mt), Bedroom 14'5'' x 11'7'' (4.41 mt x 3.56 mt) eve ceiling, Shower Room. General specification: uPVC double glazing, electric heating, electric water cylinder, entry phone, communal fire alarm system, T.V. aerial system, oven, hob and extractor, plumbing for washing machine. To the rear of the property there is parking for the Co-op only. No parking for the flats. Bin storage area. The flats are all let to; Let Me "Richmond Group" for a period of 12 months (Start date 30.11.15). Let Me is currently sub-letting all the flats. The flats are currently producing £48,750.00 p.a. (5.74% gross return, based on the asking price) Churchfield lettings believe that if the flats were to be rented separately, the rental income could increase to approximately £57,000.00 p.a. (6.71% gross return, based on the asking price). The GDV for the finished flats if sold separately is in the region of £885,000.00. The investment is well located and within close proximity of Ensbury Park shopping parade, Bmth University, Schools, Parks and bus routes to Bournemouth Centre. For further details please Contact Andrew Hooper. More development and investments available on our web site:


We confirm that we have instructed Churchfield to act on our behalf in the acquisition of the above Land, Development or Investment site (s), at an agreed fee of 2.4% including vat (minimum fee of £52,200 including vat). For any Land, Development or Investments acquired, Churchfield must be instructed as sole agents to re-sell either, the existing or finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed). Churchfield to be instructed to market the acquired property/s or the developed properties on a sole agency basis within three years of completion. We agree that if the existing acquisition/s is/are sold or let by the purchaser/s or other/s during the three year period, an additional fee of 3% including vat (Minimum fee £3,600.00 including vat) in addition to any other costs or charges agreed will be payable to Churchfield. For Developed/Completed projects sold let by the purchaser/s or other/s within the three year period Churchfield will receive commission of 3% including vat (minimum fee of £3,600 including vat) calculated on the achieved GDV of the completed unit/s in addition to any other costs or charges agreed. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest. VAT to be charged at the prevailing rate.


Churchfield Offer a FREE Selling Service to Vendors of Land, Investments and Developments

Listing History

Added on Rightmove:
23 January 2016

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