Investment opportunity We are pleased to offer the freehold sale of this block of twelve purpose built apartments offering a turnkey solution for professional investors. The property is a combination of studio, one, two and three bedroomed apartments benefiting from the balance of a ten year NHBC guarantee with gated under croft parking to the rear. The property has been extremely well maintained by the current owners, requiring no further investment and are fully let on Assured Shorthold Tenancies producing a gross rental of £86,100 per annum with the option to the improve this with renewals. It is situated in an established residential area within walking distance of the town centre and close to the new Aldi superstore and in our opinion represents an ideal long term investment opportunity with the option to sell all individual apartments in the future whilst retaining the freehold.
The apartments comprise of a mixture of two studios, five, one bedroomed apartments, four, two bed apartments, (one of which is duplex) and a three bedroomed apartment with both top floor penthouses having their own balcony and ensuites. The total living space is in excess of 7,000 square feet of a net internal and there are seven allocated under croft parking spaces approached through an electric security gate.
The properties are all fully let producing a gross rent of £86,100 per annum with the option to increase at renewal. A full schedule is available from the agent.
Each of the apartments are individually metered for water and electricity with mains drainage. The building is all electric with each apartment having its own peak and off peak circuits. The water heaters and most of the space heaters include off peak connections to improve utilisation.
Fixtures And Fittings
The property is being sold with fixtures and fittings including carpets, curtains and white goods with fitted appliances where specified.
The property qualifies for sdlt relief for multiple dwellings.
Northampton Borough Council Planning Department Guildhall St Giles Square Northampton NN1 1DE Tel:
How To Get There
From Northampton Town centre take the Lower Mounts Road towards Crown Court, at the traffic lights proceed straight over and take the first right at Earl Street which is at the corner of the Aldi superstore. Proceed along this road and at the next mini roundabout proceed straight over into Military Road and just before the mini roundabout take the first left into Duke which is a one way street, proceed to the end of the road at the end of the junction at Bailiff Street turn right and then take the first right into Craven Street and proceed along the road for approximately 100 yards where the property can be found on the right hand side.
The property stands close to Northampton town centre within walking distance of the shops, restaurants, cafés and public houses. The Northampton central bus station, Northampton railway station and the Grosvenor Shopping Centre are situated within a quarter of a mile distance. Guildhall Road is the home of the historic Royal Theatre of Northampton, one of the oldest Repertory Theatres in the country. Adjacent to the Royal is the Derngate Theatre and opposite is the Northampton Boot and Shoe Museum.
By prior appointment with Nick Pattison of Richard Greener Estate Agents on .
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