No longer on the market
This property is no longer on the market
Floorplan
Map5 bedroom property
Key information
Features and description
- Investment 4 Residential Flats (All Let)
- Investment Two Commercial Shops and Offices (One Let)
- Gross Yield (When Occupied) 8%
- 3,936 Square Feet Floor Area
- Grade II Listed Georgian Building
- Scope to Enhance Property and Return
- Prominent Buckingham Town Centre Location
- Virtual Tour On Line
* Freehold Investment * Town centre, mixed-use, residential, and commercial investment offering a good current yield with scope for enhancement and a rent increase. The property comprises a Georgian, Grade II listed building in Buckingham town centre with four residential apartments, all let and two commercial units (one let). The investment when fully occupied is likely to generate in excess of an 8% gross yield. There are four apartments (three one-bedroom and one two-bedroom).
Rooms
Commercial Unit 4 West Street
Currently used as a take away and is let on a licence
Commercial Unit 5 West Street
Commercial unit with storage and three separate offices to the rear. Currently unoccupied previously let at £12,000 per annum. There is a large amount of cellar storage with potential.
Flat 1, 5 West Street
1 bedroom first-floor apartment, front facing with Let on an Assured Shorthold Tenancy the existing tenant has lived here for many years.
Flat 2, 5 West Street
Character first-floor apartment, with mezzanine bedroom. The flat is currently let on an assured shorthold tenancy.
Flat 3 5 West Street
First-floor rear-facing one-bedroom apartment with a separate kitchen and shower room. The property is let on an assured shorthold tenancy.
Flat 4, 5 West Street
Top Floor two-bedroom apartment with sitting room, kitchen, and two bedrooms, full of beams and character. The property is let on an assured shorthold tenancy.
Investment Detail Rental Amounts and Yield
The residential aspect currently generates income as follows:
Flat 1 £4800 pa
Flat 2 £7800 pa
Flat 3 £7140 pa
Flat 4 £8280 pa
Combined the residential units are generating £ 28,020
Commercial unit 4 is let at £8,000 pa on a licence for
Commercial unit 5 is expected to achieve £12,000 pa
Fully occupied the investment would show an income of £48,020 pa a gross rental yield of 8%
Council Tax
The four flats are all Band A and the current amounts payable by tenants are £1,440.10 year 2022/2023
Business Rates
To follow
Yard
Small yard to rear with a communal metal fire escape. Gated rear access.
Parking - On street
As a town centre property, there is no dedicated parking with the property.
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