5 bed block of flats for sale

Newland Street, Coleford GL16

A well-positioned grade II listed freehold mixed-use investment property featuring a spacious double-width shopfront, currently leased as a yoga studio, along with three residential flats. The flats comprise 2 x two-bedroom units and 1 x one-bedroom unit, providing a strong rental income stream with a gross yield of 7.17%.

Current Rental Income

Flat 1: £675 pcm (£8,100 pa)
Flat 2: £675 pcm (£8,100 pa)
Flat 3: £360 pcm (£4,320 pa) (No rent increase since 2017)
Shop (Yoga Studio): £4,560 pa (No rent increase since 2016)
Total = £25,080

Gross rental yield if purchased at the asking price = 7.17%

Features & Potential

Rear Garden: Approximately 90 ft x 20 ft, narrowing to 15 ft.
Covered Storage Area: Approximately 30 ft x 11 ft within the garden.
Development Potential: The rear garden offers additional rental income opportunities, either as storage space or potential redevelopment (subject to necessary permissions). There is rear access to the garden via The Tram Road.
A fantastic investment with stable rental income and further potential for growth.

Shop

Kitchen (1.35m x 2.39m (4'05 x 7'10))

Reception (2.26m x 3.53m (7'05 x 11'07))

Wc

Treatment (2.87m x 3.71m (9'05 x 12'02))

Studio (3.25m x 7.77m (10'08 x 25'06))

Flat 1

Kitchen (3.15m x 2.34m (10'4 x 7'8))

Living Room (5.61m x 3.66m (18'5 x 12'))

Bedroom 1 (4.14m x 3.89m (13'7 x 12'9))

Bedroom 2 (3.68m x 2.21m (12'1 x 7'3))

Shower Room

Flat 2

Kitchen (3.15m x 2.34m (10'4 x 7'8))

Living Room (5.61m x 3.66m (18'5 x 12'))

Bedroom 1 (4.14m x 3.89m (13'7 x 12'9))

Bedroom 2 (3.68m x 2.21m (12'1 x 7'3))

Shower Room

Flat 3

Kitchen/Living (5.97m x 2.57m (19'07 x 8'05))

Bedroom (5.00m x 2.44m (16'05 x 8'0))

Shower Room

Services

Mains Water, Drainage & Electricity.

Mobile Phone Coverage / Broadband Availability

It is down to each individual purchaser to make their own enquiries. However, we have provided a useful link via Rightmove and Zoopla to assist you with the latest information. In Rightmove, this information can be found under the brochures section, see "Property and Area Information" link. In Zoopla, this information can be found via the Additional Links section, see "Property and Area Information" link.

Water Rates

Severn Trent - rates to be advised.

Local Authority

Council Tax Band: A
Forest of Dean District Council, Council Offices, High Street, Coleford, Glos. GL16 8HG.

Epc's

Flat 1 - E
Flat 2 - E
Flat 3 - E

Tenure

Freehold.

Viewings

Strictly through the Owners Selling Agent, Steve Gooch, who will be delighted to escort interested applicants to view if required. Office Opening Hours 8.30am - 7.00pm Monday to Friday, 9.00am - 5.30pm Saturday.

Directions

From the Clock Tower Roundabout in the centre of Coleford, head down Newland Street, and the property is located on the right-hand side.

Property Surveys

Qualified Chartered Surveyors (with over 20 years experience) available to undertake surveys (to include Mortgage Surveys/RICS Housebuyers Reports/Full Structural Surveys)

Awaiting Vendor Approval

These details are yet to be approved by the vendor. Please contact the office for verified details.