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£460,000

7 bedroom block of apartments for sale

Bath Street, Ilkeston, DE7

£460,000

7 bedroom block of apartments for sale

Bath Street, Ilkeston, DE7

Description

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Property features

  • Tenure: Freehold
  • Newly Converted Freehold Block
  • Currently Being Developed & Completion Due December 2020
  • Income Of £41,500 PA
  • Walking Distance To Hospital, Train Station And Local Amenities
  • Only Two Units left To Reserve
  • 9% Gross Yield
  • 2% + Vat Buyers Fee

Nearest stations

Ilkeston (0.7mi.)
Langley Mill (3.1mi.)

Nearest schools

school icon  Chaucer Junior School (0.2mi.)
school icon  Chaucer Infant School (0.3mi.)
school icon  Ormiston Ilkeston Enterprise Academy (0.4mi.)
Requires Improvement

Property description

The Property Advantage are pleased to market this newly converted block of apartments due to complete in Dec 2020. The block will consist of a Ground Floor shop which has been rented out on a 5 year lease starting September 2020 and is being used as a hairdressers. On the first floor 2 x studio apartments which have already been reserved by tenants. On the second and third floor it compromises of a one bedroom duplex and a two bedroom duplex. A new 2 bedroom coach house at the rear of the property in which has also been reserved by tenants. The overall income of all the units totals £41,500 per annum giving a fantastic yield of 9%.

Located in Ilkeston, Derby the property is positioned in the town centre, within walking distance of all local amenities including Tesco, Aldi, & the Hospital. The local train station Ilkeston is a short walk away, a 21 minute drive to Nottingham town centre and less than half an hour drive to East Midlands Airport.

Tenants that have reserved are due to move in prior to Christmas.

A cleaner will be provided for the communal areas and rear yard @ £40.00 per month.

All units will be liable for their own utilities including council tax.

A great investment with a great return!

*EPC'S to follow on completion of conversion*

Ground Floor commercial unit - £7,000 PA - With a contribution to insurance and service charge also.

First Floor - 2 x Studio Apartments - £6,300 Per studio totalling £12,600 Per Annum

Second and third floor - 1 x 1 bed duplex £6,600 pa and 1 x 2 bed duplex £7,500 pa totalling £14,100 per annum.

Two bed coach house - £650.00pcm / £7,800 per annum.

Management available at 7%

*Please note images are of previous projects our seller has worked on*



Property information from this agent

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Map

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Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Street view is not available at this location

Floor plans

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