This property comprises four self-contained one-bedroom apartments, offering a strong investment opportunity in a growing area. With two units currently occupied, these apartments have historically generated a net annual income of £29,520. There is substantial potential to enhance rental income either by aligning current rents with the market or through renovations and possible reconfigurations. Furthermore, the site could be fully redeveloped, increasing overall value.
Located at the heart of a vibrant central district near Fore Street, residents will enjoy proximity to local transport links and an array of independent shops nestled within charming arcades. The area is seeing increased investor interest, especially with proposed new student accommodation on nearby sites.
In addition to the apartments, this property features a lockable bin store and basement area that could potentially be converted into an additional self-contained unit.
All properties are freehold but do not have individual leaseholds. Each unit has its own council tax band A and varied EPC ratings ranging from C to D, indicating opportunities for energy efficiency improvements.
Currently under-rented compared to market rates, the apartments could achieve monthly rents up to £850 with selective modernisation, translating to an attractive rental yield of approximately 7.8%.
