94a – 100 High Street, Bromsgrove, B61 8EX

Features

• Residential Investment
• 6 self contained flats
• Town Centre location
• Current Gross Income £37,200pa
• Potential for rental growth
• Demised parking

Location

The Property is located above Bromsgrove High Street, conveniently accessed to the rear via Windsor Street which links to New Road and the Stratford Road.

The Premises are conveniently located offering access to all of the Town Centre amenities, close to Bromsgrove bus and train station.

Description

The Property comprises a block of six self-contained flats above retail accommodation on the High Street. Accessed stairs leading from rear car park off Windsor Road in Bromsgrove Town Centre.

Accommodation arranged as follows:-

First Floor:

Flats 94A and 102 – both comprising kitchen, lounge / bedroom, shower room with shower cubicle, wash hand basin and WC. Stairs ascend to:

Second Floor:

Flats 96A and 98A - both comprising kitchen, lounge / bedroom, shower room having shower cubicle, wash hand basin and WC.

Flats 100A and 102A – both comprising entrance hallway, bedroom, inner lobby and benefitting from bath, shower over, hand basin and WC, lounge and kitchen.

All of the accommodation is in good order and recently been re-decorated or refurbished and presents well.

Outside:

Each flat benefits from storage shed and car parking space within the secure rear yard.

Tenure

The property is held by way of a 125 year long leasehold from 2006 at a ground rent of £200pa.

The property is subject to six Assured Shorthold Tenancies (AST) generating a total gross income of £37,200pa with individual rents ranging from £475.00 to £625.00 pa

Asset Management

There is potential to increase the rents, which could generate a gross return of circa 8.5%

PURCHASE PRICE

£475,000

Services

All mains services are available

COUNCIL TAX

The flats are all based in Band A for Council Tax purposes.

ENERGY PERFORMANCE CERTIFICATE

Available on application.

ANTI-MONEY LAUNDERING

In accordance with Anti-Money Laundering Regulations, we require two forms of Identification and confirmation of source of funding from all Purchasers.

VIEWING

Strictly by appointment with our Reception on 01527 584242.