MapProperty
Property
4 beds
Features and description
- Tenure: Leasehold
- 3 self-contained flats let on assured shorthold tenancies
- Gas central heating to 2 flats, electric heating to Studio
- Double glazing
- Council tax & services paid by tenants
- Fully let and managed on AST’s
- Gross income £18,240 per annum
- Town Centre Location above a Cocktail Bar
- Available immediately, with tenants
- Over 7% gross return on purchase price from day one
- New roof as of April 2023
TURNKEY INVESTMENT PROPERTY IN NEWQUAY TOWN CENTRE COMPRISING 3 RESIDENTIAL UNITS ON THE FIRST AND SECOND FLOORS, FULLY LET WITH A GROSS INCOME OF £18,240 PER ANNUM
Front door off Cliff Road with a staircase to the upper floors.
No.1 First Floor Studio Apartment Let At £375Pcm - STUDIO 13'3 x 13'2 (4.04m x 4.01m)
Irregular shaped maximum measurements. Fitted kitchen area. Full height uPVC double glazed door to the rear decking at the rear of the premises in a south facing sunny position with metal balustrade.
EN-SUITE SHOWER ROOM
Pedestal basin. WC. Shower cubicle with shower heated by independent electric water heater. Ceiling extractor fan. Electric towel rail. Half glazed tiled walls.
No.2 First Floor 1 Bed Apartment Let At £550Pcm - SHOWER ROOM & WC
Fully tiled shower cubicle with shower off boiler. Pedestal basin. WC. Half glazed tiled walls. Ceiling downlights. Recess for washing machine.
BEDROOM 12'1 x 9'9 (3.68m x 2.97m)
Measurement does not include the built-in double door wardrobe. Laminated flooring. Double glazed front window. Radiator. Cupboard housing gas boiler providing the central heating and hot water for this apartment.
LOUNGE/KITCHEN 18' x 10'8 (5.49m x 3.25m)
Modern laminated flooring throughout. Lounge section with full width front double glazed windows. 2 radiators. Fitted dining table. Fitted kitchen section.
No.3 Second Floor 2 Bed Apartment Let At £595Pcm - Door to the:
L-SHAPED ENTRANCE HALL
Radiator.
LOUNGE 15'1 x 13'10 (4.60m x 4.22m)
Wide double glazed window providing access onto the front balcony. Radiator.
KITCHEN 11'8 x 5'7 (3.56m x 1.70m)
Fitted kitchen. Double glazed rear aspect window.
BEDROOM NO.1 3'7 x 8'8 (1.09m x 2.64m)
Irregular shaped maximum measurements. Front aspect double glazed window. Radiator.
BEDROOM NO.2 8'10 x 15'3 (2.69m x 4.65m)
Radiator. Rear aspect double glazed window.
SHOWER ROOM/WC
Fully tiled shower cubicle with shower off boiler. WC. Pedestal basin. Radiator. Half tiled walls.
Services - All mains
Tenure - Leasehold. 999 year lease from the 5th January 2007. A reciprocal maintenance and insurance arrangement is in place with the owners of the ground floor commercial premises (split 1/3 shop 2/3 uppers).
The freehold is jointly owned by the 2 independent owners, with this share of freehold also being included in the sale.
Council Tax - Unit 1 - Band A - paid by tenant Unit 2 - Band A - paid by tenant Unit 3 - Band A - paid by tenant
Vacant Possession - The property is sold as an ongoing investment subject to the Assured Shorthold Tenancies granted. VACANT POSSESSION IS NOT AVAILABLE UPON SALE.
The Tenants - Flat 1- Occupied since July 2018. 12 month AST 15/01/2021 to 15/01/2022
Flat 2 – Occupied since November 2020. 12 month AST 01/11/20 to 01/11/2021
Flat 3 – Occupied since December 2019 – Statutory Periodic Tenancy (rolling tenancy)
Epc - Rating - D
Front door off Cliff Road with a staircase to the upper floors.
No.1 First Floor Studio Apartment Let At £375Pcm - STUDIO 13'3 x 13'2 (4.04m x 4.01m)
Irregular shaped maximum measurements. Fitted kitchen area. Full height uPVC double glazed door to the rear decking at the rear of the premises in a south facing sunny position with metal balustrade.
EN-SUITE SHOWER ROOM
Pedestal basin. WC. Shower cubicle with shower heated by independent electric water heater. Ceiling extractor fan. Electric towel rail. Half glazed tiled walls.
No.2 First Floor 1 Bed Apartment Let At £550Pcm - SHOWER ROOM & WC
Fully tiled shower cubicle with shower off boiler. Pedestal basin. WC. Half glazed tiled walls. Ceiling downlights. Recess for washing machine.
BEDROOM 12'1 x 9'9 (3.68m x 2.97m)
Measurement does not include the built-in double door wardrobe. Laminated flooring. Double glazed front window. Radiator. Cupboard housing gas boiler providing the central heating and hot water for this apartment.
LOUNGE/KITCHEN 18' x 10'8 (5.49m x 3.25m)
Modern laminated flooring throughout. Lounge section with full width front double glazed windows. 2 radiators. Fitted dining table. Fitted kitchen section.
No.3 Second Floor 2 Bed Apartment Let At £595Pcm - Door to the:
L-SHAPED ENTRANCE HALL
Radiator.
LOUNGE 15'1 x 13'10 (4.60m x 4.22m)
Wide double glazed window providing access onto the front balcony. Radiator.
KITCHEN 11'8 x 5'7 (3.56m x 1.70m)
Fitted kitchen. Double glazed rear aspect window.
BEDROOM NO.1 3'7 x 8'8 (1.09m x 2.64m)
Irregular shaped maximum measurements. Front aspect double glazed window. Radiator.
BEDROOM NO.2 8'10 x 15'3 (2.69m x 4.65m)
Radiator. Rear aspect double glazed window.
SHOWER ROOM/WC
Fully tiled shower cubicle with shower off boiler. WC. Pedestal basin. Radiator. Half tiled walls.
Services - All mains
Tenure - Leasehold. 999 year lease from the 5th January 2007. A reciprocal maintenance and insurance arrangement is in place with the owners of the ground floor commercial premises (split 1/3 shop 2/3 uppers).
The freehold is jointly owned by the 2 independent owners, with this share of freehold also being included in the sale.
Council Tax - Unit 1 - Band A - paid by tenant Unit 2 - Band A - paid by tenant Unit 3 - Band A - paid by tenant
Vacant Possession - The property is sold as an ongoing investment subject to the Assured Shorthold Tenancies granted. VACANT POSSESSION IS NOT AVAILABLE UPON SALE.
The Tenants - Flat 1- Occupied since July 2018. 12 month AST 15/01/2021 to 15/01/2022
Flat 2 – Occupied since November 2020. 12 month AST 01/11/20 to 01/11/2021
Flat 3 – Occupied since December 2019 – Statutory Periodic Tenancy (rolling tenancy)
Epc - Rating - D
Property information from this agent
About this agent
Established in 1977 by the Start family, we are a trusted independent family run firm of estate agents dealing in the sale and rental of residential and commercial property in and around the Newquay area. We also deal with Property Management, New Homes Development and Auctioneering. We pride ourselves on our depth of local knowledge and targeted Newquay experience to deliver the very best property related service to all of our clients, big and small. Situated in the very centre of Newquay and still run by three enthusiastic members of the Start family with a wealth of local experience, we adopt a `no nonsense` and friendly approach to property transactions aiming to sell or rent your home with the minimum of fuss, at the maximum price and for a reasonable fee. It’s simple. We love the town, beaches and fantastic lifestyle. We all live in Newquay and believe passionately in all that the town and surrounding areas have to offer. Our in-depth knowledge and experience helps us to match properties to the individual in a way no other agency can. We have a vested interest in helping you to make the right decisions and not just because we will probably bump into you on the beach, in one of our amazing local restaurants, or simply getting the morning paper! We love supporting Newquay and all it has to offer and we sponsor many local sports clubs, Newquay Fish Festival, local charitable events and business groups, to help our town grow and to impact on our customers, the people that live here.