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For Sale - Investment opportunity, 11 Avenham Lane, Preston, PR1 3TS

For sale: POA|House, Other, Residential, Other Property Types & Opportunities


ADDRESS11 Avenham Lane, Preston, PR1 3TS
TYPEHouse, Other, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON16th September 2020


The property is situated fronting Avenham Lane in a highly accessible location in Preston City Centre. Avenham Park and
the City’s main business district are located close by with Fishergate, Preston's main retail thoroughfare, also within a short
walk. In addition, the City’s bus and train stations are within easy reach.

A substantial period property of conventional brickwork construction beneath a pitched slate roof providing
accommodation over basement, ground and first floors. Internally, the building benefits from an entrance hall providing access to four apartments, two at ground floor level and two on the first floor, each comprising lounge/diner, bedroom and shower/wash basin. Separate WC facilities are provided for the building as a whole together with basement store.
Externally, the premises benefit from an enclosed rear yard.

The premises benefit from mains connections to electricity, gas, water and drainage with the building as a whole
benefiting from a gas central heating system.

Council Tax Assessment
The property as a whole has a council tax assessment with Band A.

The property is held long leasehold by way of a 999 year lease with effect from 1 May 1835. We understand the ground rent
payable is £10 per annum.

Occupational Tenancies
The four apartments are let on Assured Shorthold Tenancy agreements at the following monthly rentals:
Flat 1 £330 per calendar month
Flat 2 £330 per calendar month
Flat 3 £310 per calendar month
Flat 4 £340 per calendar month

The Landlord is responsible for the costs of buildings insurance, gas central heating, water and Council Tax. The electricity
supplies to each apartment are sub-metered with the tenants reimbursing the Landlord for the cost of their electricity
consumption. The property has benefited over recent years from consistently high levels of occupancy with minimal vacancy rates.

Asking Price
Offers in the region of £140,000.


Location: 11 Avenham Lane, Preston, PR1 3TS

Preston (0.4 miles)

Lostock Hall (2.1 miles)

Bamber Bridge (2.5 miles)

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