We are pleased to present this magnificent detached house for sale, an ideal opportunity for serious investors and developers. This property is currently partitioned into several apartments, making it a thriving source of income with potential for further growth. The house is composed of eight spacious bedrooms, six comfortable bathrooms, six fully-equipped kitchens, and seven reception rooms, making it a versatile space that can cater to various tenants' needs. Currently, five of the apartments are occupied, bringing in an impressive annual income of £30,580. These include four apartments with one bedroom each, and two flats with two bedrooms each. All properties are well-maintained and have up-to-date EPCs, which can be provided upon request. One apartment remains vacant, providing an immediate opportunity for additional revenue. Once occupied, it is projected to bring in an additional £550 per month, pushing the annual income to an estimated £37,560. This property represents a promising investment with a gross yield of 8.3%. It is worth noting that all properties under this listing have up-to-date GSR and EICR, ensuring they meet safety and electrical standards, providing peace of mind for potential investors. This is a unique opportunity for investors seeking to grow their portfolio with a property that offers a robust and reliable source of income. Don't miss out on this chance to acquire a lucrative investment property. Auctioneer comments This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding. The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Reeds Rains
