A 1st floor studio flat (bedsit) with a share of freehold and recently extended lease ideally placed in the town centre within a 10 minute walk of the railway station. The owners of the flats in the building have recently obtained the freehold and a new 999 year lease. They have also agreed to each put £1,000-£1,500 into a sinking fund to carry out various urgent works to the building and gardens, which have been neglected in recent years. They have appointed a solicitor to draw up the new lease and parking plans and will manage the building themselves via a residents association. The block is entered via a secure entry system and No. 5 is located at the rear of the building with the main bed/sitting room enjoying a sunny south/westerly aspect. The property would now benefit from modernisation and redecoration which has been reflected in the realistic asking price.
Please note: The property is currently let on an assured short hold tenancy and the current tenant would be keen to continue renting the property subject to agreeing new terms with the new owner or the property will be sold with vacant possession.
|Ideal first purchase or buy to let investment||Should rent out for £600 per month|
|Small block of just 5 properties||Would benefit from modernisation and redecoration|
|Located just behind the Orchards Shopping Centre||Residents car parking|
|Recently extended lease (999 years)||West facing bed/sitting room|
|Separate kitchen and bathroom||EPC rating: F Council Tax Band: A|