Residential investment located in popular town of Llanfyllin
Comprising 12 residential apartments
Further development potential to the site, subject to statutory consents
1. The property is currently arranged to provide 12 residential apartments , which are arranged as 6 one bedroomed apartments and 6 two bedroomed apartments.
2. The property provides the opportunity of achieving an Estimated Gross Rental Income of £48,240 per annum.
3. The property offers further significant asset management potential and offers an attractive residential investment opportunity in a sought after town.
4. There is potential for further development within the boundaries of the site, subject to the receipt of statutory consents.
5. A generously sized site, which provides a Total Site Area of approximately 0.24 acres ( 0.098 hectares).
We are instructed to seek proposals for our client's freehold interest, subject to the existing occupational leases, of offers in excess of £500,000 (five hundred thousand pounds) (exclusive), which shows a net initial yield of circa 9.25%, based upon an Estimated Gross Rental Income of £48,240 per annum after allowing for potential purchaser's costs of stamp duty and acquisition costs of 1.5%.
The property is located in the centre of the sought after market town of Llanfyllin in mid Wales. The town has all local amenities, and at the 2011 census had a population of 1,532 people.
LLanfyllin lies in the valley of the River Cain, near the Berwyn Mountains and is approximately 14 miles south west of the town of Oswestry and 15 miles from Montgomery.
The town sits on the main route between Welshpool and Bala, and the A490 connects the town to Churchstoke.
The property is located in the town centre, which is in an area of mixed ommercial and residential development.
The premises comprise a three storey property, which are arranged to provide a ground floor entrance lobby with 12 residential apartments. The apartments are accessed via a common stairwell, which then provide access to 4 apartments on the first floor and 4 apartments on the second floor. Each floor provides two 2 bedroomed apartments and two 1 bedroomed apartments. The ground floor, which is arranged to provide two 2 bedroomed and two 1 bedroomed apartments, all of which are accessed externally. Two of these apartments benefit from garden areas.
The Old Blacksmiths Yard sits in a Total Site Area of approximately 0.24 acres (0.098 hectares). The property is of traditional brick construction and was built in the 1970s. It also benefits from a large car park and ancillary areas with some development potential, subject to statutory consents.The property provides the following accommodation
A Ground Floor Communal Hallway leading to first and second floors
Apartment 9 - 1 bedroomed
Apartment 10 - 2 bedroomed
Apartment 11 - 2 bedroomed
Apartment 12 - 1 bedroomed
Apartment 1- 2 bedroomed
Apartment 2 - 2 bedroomed
Apartment 3 - 1 bedroomed
Apartment 4 - 1 bedroomed
Apartment 5 - 2 bedroomed
Apartment 6 - 2 bedroomed
Apartment 7 - 1 bedroomed
Apartment 8 - 1 bedroomedThe freehold interest is offered for sale, subject to the existing Assured Shorthold Tenancies under Title Number CYM578346.
The tenancy schedule is detailed on the following page.
All the tenancies are on Assured Shorthold Tenancies.
Further details are available upon request from the selling agents.We have made internet enquires and and we have been advised as follows:
Apartment 1 Band B
Apartment 2 Band B
Apartment 3 Band B
Apartment 4 Band B
Apartment 5 Band B
Apartment 6 Band B
Apartment 7 Band B
Apartment 8 Band B
Apartment 9 Band B
Apartment 10 Band B
Apartment 11 Band B
Apartment 12 Band B