Residential Investment-5 flats

An opportunity to purchase a substantial three storey mid terraced house with an open outlook over Swansea Bay. The accommodation is provided by way of a 5 x studio flats (2 x Ground Floor, 2 x First Floor, 1 x Top Floor). We are advised by the seller that they pay the bills for the property and with each flat having an independent electric meter. The current annual income being generated is a gross annual rent of £34,680 per annum. The house is located within the Mount Pleasant area of the city and is therefore popular with students and professionals as good access is provided to the City Centre.

Tenure

Freehold

Tenancies

We understand that the current gross annual income is £34,680 per annum and we are advised that this is split as shown below. Please refer to the legal pack for confirmation of incomes. Ground Floor Front Studio is let at £495 p/c/m. Ground Floor Rear Studio is let at £600 p/c/m. First Floor Front Studio is let at £495 p/c/m. First Floor Rear Studio is let at £700 p/c/m. Top Floor Studio is let at £600 p/c/m.

Outside

The top floor unit benefits from an external balcony. There is also an area to the rear providing off road parking, to the front is a good size garden.

Viewings

Auction House Wales on 02920 475184

Council Tax Band - E

Energy Efficiency Rating (EPC)

Current Rating Ground Floor Front Flat -D, Grount Floor Rear Flat - D, MIddle Floor Front Flat - C & Middle Floor Rear Flat - E Top Flat - E

Local Authority

Swansea Council

Solicitors

Howells Solicitors, Fitzalan House, Ref: Howells Solicitors, Tel: 029 2040 4020

Additional Fees

Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.