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Block Of Apartments Flat for sale in Lingmell Courtyard, Gosforth Road, Seascale

Block Of Apartments Flat - £1,100,000

Lingmell Courtyard, Gosforth Road, Seascale

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First listed on: 27th February 2017

Nearest stations: Seascale (0.6 mi)Sellafield (1.3 mi)Drigg (2.1 mi)Braystones (3.8 mi)Ravenglass for Eskdale (4.2 mi)

Interested in this property? Call See phone number 01702 606888

Further Informations

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Property Features

  • Newly Refurbished
  • Apartments plus three bedroom houses
  • Cul De Sac Location
  • Two Garages
  • Opportunity for additional development

Property Description

Tenure: Freehold

Newly Refurbished and Fully Occupied development available at an approximate net yield of 7.3%.

Wel are delighted to present a fantastic investment opportunity, located within short distance to Selafielld Power Station, the development is located in a large cul-de-sac, with two garages and an opportunity for additional development on the site.

The development, new to the market, has been recently renovated to a good standard and is fully occupied with a rent roll of £80,000 per annum.

The development consists of 13 units consisting of 1, 2, 3 and 4 bedroom apartments and 3 three bedroom houses The total gross income for the 2016 was £82,000 per annum. The rent received is excluding utilities and all properties are subject to assured short tenancies with all deposits lodged into a tenancy deposit scheme.

We believe that there is scope for rent increases increasing the current rental income to £100,000 producing a yield of circa 9%.
Address Beds Status Current let Market Value
1 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Ground Floor £500.00 £ 525.00
2 Lingmell Courtyard, Gosforth Road Seascale 2 2 Bedroom Ground Floor £550.00 £ 600.00
3 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Apartment £495.00 £ 700.00
4 Lingmell Courtyard, Gosforth Road Seascale 2 2 Bedroom Apartment £450.00 £ 600.00
5 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Apartment £575.00 £ 700.00
6 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £450.00 £ 550.00
8 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £575.00 £ 700.00
9 Lingmell Courtyard, Gosforth Road Seascale 4 4 Bedroom House £500.00 £ 750.00
10 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £550.00 £ 700.00
11 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £395.00 £ 550.00
12 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £495.00 £ 550.00
13 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £495.00 £ 750.00
14 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £600.00 £ 750.00



A covenant of the sale is for Reed Residential to retain the lettings and management for a period of 3 years at a fixed fee of 10% + VAT

Floor plans and EPCs are fully available upon request

Property Misdescriptions Act 1991 - all statements contained within this brochure have been provided in good faith and are understood to be accurate although cannot be guaranteed as we rely on information provided by others. Potential purchasers should satisfy themselves as to the validity of the information contained either by inspection or through their solicitors prior to any exchange of contracts to purchase. Services have not been tested and purchasers are recommended to undertake independent tests on all services and mechanical installations prior to exchange. Details correct at time of going to print.

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Newly Refurbished and Fully Occupied development available at an approximate net yield of 7.3%.

Wel are delighted to present a fantastic investment opportunity, located within short distance to Selafielld Power Station, the development is located in a large cul-de-sac, with two garages and an opportunity for additional development on the site.

The development, new to the market, has been recently renovated to a good standard and is fully occupied with a rent roll of £80,000 per annum.

The development consists of 13 units consisting of 1, 2, 3 and 4 bedroom apartments and 3 three bedroom houses The total gross income for the 2016 was £82,000 per annum. The rent received is excluding utilities and all properties are subject to assured short tenancies with all deposits lodged into a tenancy deposit scheme.

We believe that there is scope for rent increases increasing the current rental income to £100,000 producing a yield of circa 9%.
Address Beds Status Current let Market Value
1 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Ground Floor £500.00 £ 525.00
2 Lingmell Courtyard, Gosforth Road Seascale 2 2 Bedroom Ground Floor £550.00 £ 600.00
3 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Apartment £495.00 £ 700.00
4 Lingmell Courtyard, Gosforth Road Seascale 2 2 Bedroom Apartment £450.00 £ 600.00
5 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom Apartment £575.00 £ 700.00
6 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £450.00 £ 550.00
8 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £575.00 £ 700.00
9 Lingmell Courtyard, Gosforth Road Seascale 4 4 Bedroom House £500.00 £ 750.00
10 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £550.00 £ 700.00
11 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £395.00 £ 550.00
12 Lingmell Courtyard, Gosforth Road Seascale 1 1 Bedroom Apartment £495.00 £ 550.00
13 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £495.00 £ 750.00
14 Lingmell Courtyard, Gosforth Road Seascale 3 3 Bedroom House £600.00 £ 750.00



A covenant of the sale is for Reed Residential to retain the lettings and management for a period of 3 years at a fixed fee of 10% + VAT

Floor plans and EPCs are fully available upon request

Property Misdescriptions Act 1991 - all statements contained within this brochure have been provided in good faith and are understood to be accurate although cannot be guaranteed as we rely on information provided by others. Potential purchasers should satisfy themselves as to the validity of the information contained either by inspection or through their solicitors prior to any exchange of contracts to purchase. Services have not been tested and purchasers are recommended to undertake independent tests on all services and mechanical installations prior to exchange. Details correct at time of going to print.

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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Price History

Listed prices are those submitted to us and may not reflect the actual selling price of this property.

Date History Details
17/10/2017 Property listed at £1,100,000
01/10/2017 Property listed at £1,300,000
01/03/2017 Property listed at £1,100,000

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Disclaimer

Disclaimer Property reference F48BD5A10E598F_2000. Details are provided and maintained by Reed Residential. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

Reed Residential, Essex

431-435 London Road

Westcliff on Sea

Essex

SS0 7HU

Telephone: See phone number 01702 606888

Fax: 01702 437553

Arrange Viewing Arrange Viewing with Agent

Disclaimer

Disclaimer Property reference F48BD5A10E598F_2000. Details are provided and maintained by Reed Residential. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

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This property is marketed by

Reed Residential, Essex

431-435 London Road

Westcliff on Sea

Essex

SS0 7HU

Telephone: See phone number 01702 606888

Fax: 01702 437553

Arrange Viewing Arrange Viewing with Agent

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