Property for sale
Key information
Property description & features
- Tenure: Freehold
- Seven Self Contained Apartments
- Excellent investment Opportunity
- Strong Yield
- Central Location
- Freehold Title
Great investment opportunity. A block of seven self contained flats with a yield of 10%! Great returns on your investment and opportunity to increase income with further development!
Fully let with many long term tenants, up to date with electrical safety and fire regs etc. Modern electric heating throughout plus one large maisonette with gas central heating.
There is an attractive rear garden and off road car parking for two cars. Very close to the town centre!
Please note we have not inspected this property.
Rooms
Location
The subject property is located along Lumley Avenue. Delightful central position, very close to the town centre and sea front.
Accommodation: Flat 1
Porch
Hall
Flat One (ground floor) Hall
Lounge/Kitchen
4.36m x 4.24m (14' 4" x 13' 11")
Bedroom
3.38m x 3.31m (11' 1" x 10' 11")
Ensuite Shower Room
Flat Two (ground floor) Hall
Lounge/Kitchen
3.18m x 3.28m (10' 5" x 10' 10")
Bedroom
2.20m x 3.31m (7' 2" x 10' 11")
Ensuite Shower Room
1.41m x 2.15m (4' 7" x 7' 1")
Store room
1.48m x 2.05m (4' 11" x 6' 8")
Accommodation: Flat 3
Flat Three (ground floor rear) Hall
Lounge/kitchen
3.53m x 4.98m (11' 7" x 16' 4")
Bedroom
2.66m x 3.90m (8' 8" x 12' 10")
Shower Room
1.58m x 2.12m (5' 2" x 7' 0")
First Floor Landing
Store Room
1.56m x 1.92m (5' 1" x 6' 4")
Spare Room
2.40m x 2.82m (7' 11" x 9' 4")
Flat Five (first floor) Hall
Lounge/Kitchen
3.23m x 3.76m (10' 7" x 12' 4")
Bedroom
2.86m x 3.17m (9' 5" x 10' 5")
Ensuite Wc
Low level Wc, wash hand basin.
Shower Room
1.47m x 2.33m (4' 10" x 7' 7")
Accommodation: Flat 4
Flat Four (first floor)
Kitchen/Lounge
3.36m x 4.48m (11' 0" x 14' 8")
Bedroom
4.28m x 3.35m (14' 0" x 11' 0")
Ensuite Shower Room
Accommodation: Flat 6
Flat Six (first floor)
Doors top
Lounge/Kitchen
3.60m x 3.73m (11' 10" x 12' 2")
Bedroom
2.70m x 3.59m (8' 11" x 11' 10")
Shower Room
1.62m x 2.28m (5' 4" x 7' 6")
Accommodation: Flat 10
Flat 10 (ground floor to rear)
Door opens from hall to;
Kitchen/Diner
3.48m x 3.94m (11' 5" x 12' 11")
UPVC window to the side aspect, with range of base and wall cupboards, stainless steel sink, freestanding gas cooker, tall Beko fridge freezer, radiator, central heating boiler, door to;
Lounge/Diner
4.30m x 7.01m (14' 1" x 23' 0")
Sun Room
1.95m x 4.42m (6' 5" x 14' 6")
Hall
Bedroom
3.20m x 4.33m (10' 6" x 14' 2")
Dressing Room
1.73m x 3.19m (5' 8" x 10' 6")
Ensuite Bathroom
1.53m x 3.25m (5' 0" x 10' 8")
Accommodation: Continued
Outside
To the side of the property is parking for three cars on the side service road. Driveway off the service road provides further parking and an enclosed low maintenance garden laid to patio and gravel.
Cellar
Consists of three rooms for storage, door to rear of building (some restricted headroom).
Tenancy Details
10 Lumley - Tenanted at £120pw
Flat 1 - Tenanted at £85pw
Flat 2 - Tenanted at £75pw
Flat 3 - Tenanted at £85pw
Flat 4 - Tenanted at £85pw
Flat 5 - Tenanted at £75pw
Flat 6 - Tenanted at £85pw
Total annual income £31,720
Tenure
Freehold. Title number LL178232
Council Tax
All Band A.
EPC
Flats 1-6 - Available Upon Request (Rating E).
Services
The property has mains water, sewerage and electricity. Flat Number 10 has both gas and electric however the rest of the flats only have electric and are on card meters. All flats have their own hot water tanks. The property has linked smoke detectors. The flats have individual EPC certificates. We have not tested any heating systems, fixtures, appliances or services.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 426599. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Pattinson - Commercial.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 8, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 8, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on January 23, 2024 from 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.
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.