This distinctive freehold property features two separate one-bedroom flats, presenting an exciting investment opportunity. Currently, the ground floor flat generates a rental income of £550 per month, while the first-floor flat is vacant and has potential for a rental income of around £695 per month. The current total estimated annual rental value sits at approximately £16,680. Notably, there exists an opportunity to transform the ground floor flat into a two-bedroom layout, enhancing its rental appeal.
Furthermore, there's significant scope for expansion; plans could be envisioned to extend the building or reconfigure it into four one-bedroom flats (subject to planning permissions), which may increase potential earnings to somewhere between £28,000 and £30,000 annually. The property is well-positioned within walking distance to the town centre and local amenities.
Outdoors, there’s a small front garden with views of a nearby church and a rear parking area that can accommodate multiple vehicles, further supporting possible future development efforts. This property offers a solid foundation for renovation and growth in a desirable location.
