IMG_8109

Cecil Court
Cecil Street
Gainsborough
Lincolnshire
DN21 2LQ

£475,000
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INCOME PRODUCING INVESTMENT OPPORTUNITY

3985 sq, ft

Approximate Site Area

For Sale

Features Include....

  • Gross Yield 6.76%
  • Income Producing Investment Property
  • Town Centre Location

Property Summary

Description
The subject property comprises a single two-storey block of residential units comprising of three independent blocks and a total of 7 residential units as follows
• 1x 2 bedroom house
• 5x 2 bedrrom flats
• 1x 1 bedroom flat
The properties internally have been constructed and fitted out to an equal specification and are of a similar size and nature. Each individual block benefits from its own communal area.
One car parking space per residential unit is provided.

Council Tax
All 7 units in Cecil Court are Band A £1,121.73 per annum

Price
£475,000

Terms
The premises are available for sale Freehold with the benefit of the existing Assured Shorthold Tenancies.

Existing Tenancies
The premesis are let by way of 7 separate ASTs ranging from £350-£425 pcm which therefore provides a total annual income of £32,100 per annum.
This therefore represents a gross yield of 6.76%.
A full schedule of the existing tenancies is attached

VAT
Unless stated all prices are quoted exclusive of Value Added Tax (VAT).

Legal Costs
Each party will be responsible for their own legal costs incurred in this transaction.

Energy Efficiency Rating
A copy of the Energy Performance Certificate is available upon request.

Services
We understand that mains electricity, water and drainage are connected to the premises. However, we recommend that interested parties contact the relevant service providers to confirm this.

Viewing
Strictly by prior appointment through the sole letting agents, Musson Liggins.

Location
The property is situated off Cecil Street within an established residential area of Gainsborough.
The immediate surrounding environs of Gainsborough are rural or semi-rural and a substantial number of smaller villages are within close proximity.
Gainsborough is situated on the River Trent within the West Lindsey District of. The town benefits form the popular retail complex of Marshalls Yard and is approximately 8 miles north west distance to Robin Hood Airport

0 - 10,000 sq ft

For Further Information Contact

Matthew Wade BSc (Hons) MRICS

Director

Professional Experience I first came to Nottingham in 1999 and my first job was as a graduate surveyor with FHP. I qualified as a chartered surveyor in 2000 and then joined Geo. Hallam & Sons and latterly Humberts where I..

Jack Farrell - Surveyor

Experience I have worked at Musson Liggins since May 2018 having previously worked at Bairstow Eaves in Nottingham. I assist with all aspects of General Practice surveying however the majority of my time is spent dealing with commercial property agency...

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