Plum Properties

Tel: 01624 820600

1 Athol Street
Douglas
Isle Of Man
IM1 1LD

Waverley Terrace, Ramsey, Isle Of Man

Asking Price £325,000

6 Bedroom House - Townhouse

Excellent Investment Opportunity
Freehold of Four Unit Apartment Block
3 Units Let to Long Term Tenants
Undergone Extensive Structural Improvements
Option to Create a Fifth Unit STPP
Property Would Benefit from Internal Modernisation
No Onward Chain
Central Ramsey Location
Beach & Amenities Nearby
Paperwork Available for Structural Improvements

An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone £50k investment of structural improvements including replacement steel beams, lintels, windows, guttering and roof tiles, treatment of dry rot and repairs to the chimney stack.

Internally the building is ready to be modernised, and there is an opportunity, subject to obtaining the relevant planning consent to split one apartment into two to create a fifth unit

Three of the four flats are fully let to long term tenants, ensuring that any internal improvement works can be carried out in phases, starting with the vacant flat.

Summary

An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone £50k investment of significant structural improvements including replacement steel beams, lintels, windows, guttering and roof tiles, treatment of dry rot and repairs to the chimney stack.

Internally the building is ready to be modernised, and there is an opportunity, subject to obtaining the relevant planning consent to split one apartment into two to create a fifth unit

Three of the four flats are fully let to long term tenants, ensuring that any internal improvement works can be carried out in phases, starting with the vacant flat.

The Vendor is also open to selling each of the individual units on a leasehold basis, offering a proportionate share of the freehold through part ownership of a management company.

Additional Information

- Recent Substantial Structural Improvements Undertaken, both internally and externally
- Details of works carried out available for inspection
- Flat 1 - a vacant and spacious 2 Bed Duplex flat requires improvement works. Potential to convert to two flats,
- Flat 2 - 1 bed let at £600pcm
- Flat 3 - 1 bed let at £425pcm
- Flat 4 - 1 bed let at £500pcm

Directions

From Parliament Square, travelling in the direction of the Mountain Road, take a left turning onto the A2 prior to Ramsey bus station. Continue along the road until reaching Waverley Terrace on the left hand side immediately after passing Chapel Lane.

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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