6 bedroom townhouse for sale
Key information
Property description & features
- Tenure: Freehold
- Excellent Investment Opportunity
- Freehold of Four Unit Apartment Block
- 3 Units Let to Long Term Tenants
- Undergone Extensive Structural Improvements
- Option to Create a Fifth Unit STPP
- Property Would Benefit from Internal Modernisation
- No Onward Chain
- Central Ramsey Location
- Beach & Amenities Nearby
- Paperwork Available for Structural Improvements
Internally the building is ready to be modernised, and there is an opportunity, subject to obtaining the relevant planning consent to split one apartment into two to create a fifth unit
Three of the four flats are fully let to long term tenants, ensuring that any internal improvement works can be carried out in phases, starting with the vacant flat.
Summary - An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone £50k investment of significant structural improvements including replacement steel beams, lintels, windows, guttering and roof tiles, treatment of dry rot and repairs to the chimney stack.
Internally the building is ready to be modernised, and there is an opportunity, subject to obtaining the relevant planning consent to split one apartment into two to create a fifth unit
Three of the four flats are fully let to long term tenants, ensuring that any internal improvement works can be carried out in phases, starting with the vacant flat.
The Vendor is also open to selling each of the individual units on a leasehold basis, offering a proportionate share of the freehold through part ownership of a management company.
Additional Information - - Recent Substantial Structural Improvements Undertaken, both internally and externally
- Details of works carried out available for inspection
- Flat 1 - a vacant and spacious 2 Bed Duplex flat requires improvement works. Potential to convert to two flats,
- Flat 2 - 1 bed let at £600pcm
- Flat 3 - 1 bed let at £425pcm
- Flat 4 - 1 bed let at £500pcm
Directions - From Parliament Square, travelling in the direction of the Mountain Road, take a left turning onto the A2 prior to Ramsey bus station. Continue along the road until reaching Waverley Terrace on the left hand side immediately after passing Chapel Lane.
Property information from this agent
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