746 Cameron House
White Cross
Lancaster
Lancashire
LA1 4XQ
Northumberland Street, Morecambe
Price £549,950
9 Bedroom Block of Flats
A superb investment opportunity. This brilliant and well maintained building on Northumberland Street in Morecambe comprising eight apartments (seven one bedroom and one two bedroom) and grossing circa £47,000 per annum is now available as an ongoing concern. Fully occupied and with no known arrears it looks a great investment vehicle at an over 8% yield. The block is fully managed and that is an option to continue.
Recently upgraded by the owner meaning all apartments have contemporary shower rooms and kitchens it is 'ready to go'. If you are looking for somewhere to put your money with a healthy return, why not consider this?..
The building..
A triple bay fronted, Victorian property providing vast accommodation split into eight apartments. Seven one bedroom and one two bedroom duplex. Each flat has contemporary fitted kitchens, a spacious and nicely appointed shower room and tasteful decor throughout. Externally there is parking provided for the block to the rear.
The location
Situated on Northumberland Street, a street rich with high end trades such as solicitor offices and a short walk off Morecambe Promenade and the imperious sunsets that provides. A wealth of local amenities are nearby including shops, cafes, restaurants, the Midland Hotel and even amusement arcades and bingo.
The situation
The current owner did a relatively recent overhaul on the building and it is now a fully occupied investment vehicle. All eight apartments are occupied with fully vetted tenants and the return is circa £47,000 gross per annum showing an 8% plus return.
Services
The property is serviced with electric (all apartments have electric heating), mains water and drainage. The apartments have all been given their own meters.
Tenure
The current owner is selling the whole building as a freehold, ongoing concern.
Council Tax
n/a
Viewings
Strictly by appointment with Houseclub Estate Agents.
Energy Performance Certificate
A commercial EPC has been issued with a C rating - ask our office for a copy if required.
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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