4 x STUDIO FLATS | £28k pa | TR18

Offered at auction, this leasehold portfolio comprises four self-contained studio flats in a purpose-built block close to West Cornwall Hospital and Penzance town centre. Three flats are on the ground floor and one is on the second floor. Each has an open-plan living and sleeping area, a separate kitchen and a bathroom or shower room. The flats are offered with vacant possession and are described as former rentals requiring cosmetic updating. The listing states that new 999-year leases will be granted. Service charge is £487.14 per flat per year, with buildings insurance of £73.28 per flat per year. The stated EPC ratings are D, C, D and D, and each flat is in Council Tax Band A. Residential letting is permitted with prior consent; holiday and short-term letting are excluded under the proposed lease terms, and consent is required to keep pets. The agent cites potential rent of £600 per month per studio, or £28,800 per year across the portfolio, subject to refurbishment and achieving those rents. The properties are being sold through a live online auction, with bidding by telephone, proxy or online. Buyers should review the legal pack, lease terms, costs and completion arrangements before bidding.