£340,000

Block of flats for sale

  1. Property photo 1 of 1.
Under offer
Auction
Freehold

Guide price

£340,000

Block of flats for sale

Atherley Road, Shanklin, Isle Of Wight PO37

Local area information

Property location

Nearby amenities

  • Shanklin 0.1 miles
  • Gatten and Lake Primary School 0.3 miles
  • St Blasius Shanklin CofE Primary Academy 0.4 miles
  • Lake 1 mile

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
  • Well presented, substantial building comprising 7 flats
  • A mix of one and two bedroom properties all currently let on 6 monthly ASTs except for Flat 5
  • Fully occupied passing rent is £2,695 pcm equating to £32,340 per annum gross
  • For Sale by way of Clive Emson auction on 13 December 2023, guide price £320,000 - £340,000
Location

Located in Atherley Road, Shanklin within easy walking distance of Shanklin Station and Regent Street, arguably the prime shopping street in the Shanklin, Sandown, Lake conurbation. The property is also within easy reach of Shanklin Esplanade and the sandy beaches and leisure facilities it has to offer. Shanklin is the Island's major town on the south coast and serves as a day-to-day needs centre for the surrounding towns in the area. The sandy beaches and leisure offer attracts high numbers of visitors and tourists, which boost the local population of around 19,500, particularly in the Summer season.

Description

A well presented and substantial building comprising 7 flats in total, 5 of which are one bedroom with the remaining 2 flats being two bedroom units. Flats 4,2 & 1 have new meters and shower room extractors. All flat roofs have been re-felted with 25-year guarantees. Please see floor plan overleaf for further detail.

Tenancies

Rents for the one bedroom units, depending on their size, range between £320 and £495 pcm and between £346 and £500 pcm for the two bedroom units. Total current income per month is £2,695 equating to £32,340 per annum gross. It would appear looking at rents achieved, that there is potential here on some of the flats for some rental growth. Flat 5 is currently vacant. The rental income quoted includes the amount that was previously being paid for this unit.

Terms

For Sale by way of Clive Emson Auction on 13 December 2023, with a guide price of £320,000 - £340,000

Viewing

Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Contact Gavin Chambers or Morgan Williams on . E: Or

Under no circumstances should any approach be made to personnel within the property as they will be unable to assist you

Floor Plan

The floor plan is under construction and will be added shortly

Council Tax

All seven flats fall within Band A for Council Tax. Source:

More information

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Property descriptions and related information displayed on this page are marketing materials provided by - Gully Howard. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Gully Howard for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Isle of Wight
  4. Shanklin
  5. Atherley Road

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