Two bedroom flat with tenant in situ

Being sold with tenant in situ is this tenanted two bedroom flat in Banff, Aberdeenshire. Located on the first (top) floor of a block of two units, the spacious accommodation comprises lounge, dining area with kitchen off, two bedrooms, boxroom/study and bathroom with shower over bath. The current tenant has been in situ for approximately three years and are currently paying £550 per calendar month which equates to a healthy 11% rental yield if purchased at guide price, with greater returns potentially available in the private rental market. Investors should be aware that the tenancy documentation will require to be updated to a PRT to fall in line with current legislation. In addition to the immediate rental income, a generous 20% discount is offered against the £75,000 Home Report valuation. An ideal addition to an existing rental portfolio, or first venture into the buy to let arena, this one is sure to move quickly. Early expression of interest is essential. Council Tax Band: A.

Tenure

Freehold

Area

The coastal town of Banff lies within north Aberdeenshire, approximately 50 miles north of Aberdeen. St Catherine Street lies close to the town centre, with a variety of retail and leisure options close by, with both primary and secondary schooling available in the town. Regular bus services are available, train stations being Huntly, Inverurie and Dyce, and the A947 providing a direct route south.

Energy Efficiency Rating (EPC)

Current Rating D

Local Authority

Aberdeenshire Council

Additional Fees

Administration Charge - 3.6% inc VAT of the purchase price, subject to a minimum of £3600 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.