12 bedroom semi-detached house for sale

BLOCK OF FLATS - INVESTMENT / BREAK UP

Under Offer £1,400,000

Property Description

Key features

  • BLOCK OF FLATS - INVESTMENT / BREAKUP
  • FIRST TIME ON THE MARKET SINCE 1940'S
  • 68,400 INCOME PER ANNUM
  • FOUR SELF CONTAINED FLATS
  • PRIME INVESTMENT OPPORTUNITY

Full description

Hollis Morgan - A prime INVESTMENT / BREAK UP OPPORTUNITY to acquire a fully let BLOCK OF FLATS ( 4949 Sq Ft ) producing an income of £68,400 per annum/ BREAK UP £1.65m - £1.85m

The Property - On the market for the first time since the 1940's this prime Freehold semi detached period property ( 4949 Sq Ft ) occupies a prominent corner position and is arranged as four large self contained flats.
The flats have been let for a number of years and whilst having been well maintained they would now benefit from some basic updating but offer bright and airy spacious accommodation in this highly sought after location.

Accommodation Schedule - FLAT 1 - BASEMENT

Kitchen
Lounge
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom

FLAT 2 - HALL FLOOR

Lounge
Kitchen
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom

FLAT 3 - FIRST FLOOR

Lounge
Kitchen
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom
Shower room

FLAT 4

Lounge
Kitchen
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom

OUTSIDE

Front Garden
Rear Garden
Storage Area
Off Street Parking

Location - The property is located in a picturesque tree lined road adjacent to Whiteladies Road with its wide range of shopping and entertainment facilities.

The Opportunity - INVESTMENT / INCREASE RENTS

The block is fully let producing £68,400 per annum but there may be scope to increase these rents by updating each individual flat.

BREAK UP / REFURBISH / RESALE

The vacant value of each unit allows for a significant profit would buyers wish to undertake a luxury refurbishment and break up the block for individual sale.
We understand the renovated value of each unit is

Flat 1 £400,000 - £425,000 ( Including Garden)
Flat 2 £450,000 - £500,000
Flat 3 £425,000 -£450,000
Flat 4 £375,000 - £425,000
TOTAL £1.65m - £1.8m

FAMILY HOME

Scope to convert back into a Family Home in this sought after location.

OFF STREET PARKING

There is scope for additional off street parking on the front garden area,

Existing Tenants / Income - All flats are sold subject to the existing AST tenancies as follows;

FLAT 1 ( BASEMENT )
£1600 pcm
Start Date - 18/06/2016

FLAT 2 ( HALL FLOOR FLAT )
£1400 pcm
Start Date - 21/04/2017

FLAT 3 ( FIRST FLOOR )
£1300 pcm
Start Date - 17/09/2017
TO BE SOLD WITH VACANT POSSESSION

FLAT 4 ( TOP FLOOR )
£1400 pcm
Start Date - 24/03/2017

TOTAL £5,700 pcm / £68,400 pcm

Rental Appraisal - This impressive property is located ideally for either professional and student lettings alike. The properties in terms of layout and condition are generally great for letting with separate kitchen and reception rooms. With regarded to current rental values:

Basement Flat £1650 pcm
Hall Floor Flat £1650 pcm
1st Floor Flat £1650 pcm
2nd Floor Flat £1650 pcm

£79,200 Per annum.

All properties are of an adequate letting condition and should be able to achieve the above levels without works occurring.

If you have any queries please contact Clifton Rentals on info@clifton-rentals.co.uk or 0117 911 3423/07854367689


More information from this agent

Listing History

Added on Rightmove:
17 April 2018

Nearest stations

  • Clifton Down (0.2 mi)
  • Redland (0.5 mi)
  • Montpelier (0.9 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Hollis Morgan, Clifton - Commercial, Land, Development and Investment

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 973 6565 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Hollis Morgan, Clifton - Commercial, Land, Development and Investment

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 973 6565 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Clifton Down (0.2 mi)
  • Redland (0.5 mi)
  • Montpelier (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hollis Morgan, Clifton - Commercial, Land, Development and Investment

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 973 6565 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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