Map
Area stats1 bedroom property for sale
Key information
Features and description
- Excellent investment opportunity
- 13 flats in 2 blocks
- Close to town & beach
- Well maintained
13 Freehold Flats in two blocks situated in a good location close to the town centre and beach
with an excellent rental income. These Flats have been well maintained over the years and have
been recently upgraded to achieve an EPC Rating of C for all flats. For Sale due to retirement.
ACCOMMODATION:
FRONT BLOCK:
GROUND FLOOR
Entrance is on the side elevation via a SHARED HALL with radiator, 4 Zone Fire Alarm Control Panel, BOILER
ROOM housing a Glowworm gas central heating boiler and insulated hot water cylinder (9 Flats), electric fuses.
FLAT 5B
STUDIO ROOM with KITCHENETTE with pvc walk in bay window to the front elevation, radiator. SHOWER
ROOM with shower cubicle, W.C, hand basin, extractor.
FLAT 4B
Private entrance with small outdoor sitting area, KITCHEN with pvc door, pvc window, radiator, open plan to LIVING
ROOM with radiator. BEDROOM with pvc window and radiator. SHOWER ROOM with shower cubicle, W.C, hand
basin, extractor, radiator.
FLAT 6B
Private entrance to HALL via a pvc double glazed door. STUDIO ROOM with KITCHENETTE with pvc front bay,
radiator. SHOWER ROOM with shower cubicle, W.C, hand basin, extractor.
FLAT 7B
Private entrance at rear. KITCHEN with pvc window, radiator, pvc door, BEDROOM with radiator, pvc window.
SHOWER ROOM with shower cubicle, W.C, hand basin, extractor. LIVING ROOM with radiator, pvc window.
FLAT 8B
Private entrance at rear. HALL With pvc double glazed door. LIVING ROOM with pvc double glazed window,
radiator. KITCHEN with pvc window, radiator. INNER HALL. BEDROOM with pvc window, radiator, built in
wardrobe. SHOWER ROOM with shower cubicle, W.C, hand basin, extractor, radiator.
FLAT 9B
Private entrance at rear. KITCHEN with pvc door, radiator, LIVING ROOM with radiator, pvc window. BEDROOM
with pvc window, radiator. SHOWER ROOM with shower cubicle, W.C, hand basin, radiator, extractor.
FIRST FLOOR LANDING
With pvc window, radiator, access to roof space.
FLAT 1B
STUDIO ROOM with KITCHENETTE with radiator, 2 pvc windows, single glazed window. SHOWER ROOM with
hand basin, shower cubicle, extractor, radiator.
FLAT 2B
LIVING ROOM with KITCHENETTE with radiator, 2 pvc windows. BEDROOM with pvc window, radiator, door to
landing. SHOWER ROOM with shower cubicle, hand basin, W.C, extractor.
FLAT 3B
LIVING ROOM with KITCHENETTE with pvc window to the front elevation, radiator. BEDROOM with radiator, pvc
window. SHOWER ROOM with shower cubicle, W.C, hand basin, extractor.
REAR BLOCK;
GROUND FLOOR
BOILER ROOM
With Viessmann gas central heating boiler, insulated hot water cylinder, electric fuses, electric meters on external
walls.
FLAT 2A
OPEN PORCH. KITCHEN with pvc door. STUDIO ROOM with pvc window, radiator. SHOWER ROOM with
shower cubicle, W.C, hand basin, radiator, extractor.
FLAT 3A
OPEN PORCH. KITCHEN with pvc door. STUDIO ROOM with pvc window, radiator. SHOWER ROOM with
shower cubicle, W.C, hand basin, radiator, extractor.
FIRST FLOOR
via external staircases.
FLAT 1A
STUDIO ROOM with radiator, pvc window, pvc door. SHOWER ROOM with shower cubicle, W.C, hand basin,
radiator, extractor. KITCHENETTE with extractor.
FLAT 4A
STUDIO ROOM with radiator, pvc window, pvc door. SHOWER ROOM with shower cubicle, W.C, hand basin,
radiator, extractor. KITCHENETTE with extractor.
OUTSIDE:
Brick wall to the front with Concrete paths and gravelled garden and bin storage areas.
Rear yard with tarmac drive with electric meters and fuses, concrete paths, gravelled parking, bin storage and
drying areas.
TENURE & RENT:
Freehold and subject to the existing tenancies. The rent includes gas central heating and water.
Front Block Rent (per week) Type Sqm (taken from EPC)
Flat 1b £90.00 Studio 15
Flat 2b £115.00 1 Bedroom 25
Flat 3b £110.00 1 Bedroom 24
Flat 4b £115.00 1 Bedroom 37
Flat 5b £95.00 Studio 22
Flat 6b £95.00 Studio 23
Flat 7b £115.00 1 Bedroom 30
Flat 8b £115.00 1 Bedroom 36
Flat 9b £115.00 1 Bedroom 34
Rear Block
Flat 1a £95.00 Studio 18
Flat 2a £95.00 Studio 18
Flat 3a £95.00 Studio 18
Flat 4a £95.00 Studio 18
Total Gross Rent £1,345 per week / £69,940 per annum
Rooms
Description
13 Freehold Flats in two blocks situated in a good location close to the town centre and beach
with an excellent rental income.
Location
Good location close to the town centre and beach
EPC's
ALL FLATS EPC RATING C
Tenure
Freehold - 13 Flats on 1 title number - LL159477
Services
Mains gas, electricity, water and sewerage services are understood to be connected. The property is served by one water meter, one electric meter and one gas central heating boiler for each block. The flats have their own electric meters (most being the key type). The agents have not inspected or tested any of the services or service installations and purchasers should rely on their own survey
Council Tax
Each flat has a council tax band of A. Local Authority – East Lindsey District Council
Auctioneers Additional Comments
Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. 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.
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 equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
Area statistics
About this agent
