Chosen Estate Agents
1 Church Road
Churchdown
Gloucester
GL3 2ER
Church Street, Tewkesbury
£800,000
House
- Freehold block of six one-bed apartments + ground floor commercial unit
- Converted in 2005, sold with tenants in situ, no onward chain
- Current income £64,500 pa (8.06% yield at asking price)
- Potential income £65,880 pa (8.62% yield at £850 pcm)
- Apartments with open plan living, double bedroom & bathroom
- Rear parking for tenants, shop with separate access
This freehold investment opportunity on Church Street comprises six one-bedroom apartments together with a ground floor commercial unit, all within easy reach of the town centre. The property was converted in 2005 and is offered to the market with tenants in situ and no onward chain, making it an attractive ready-made buy-to-let purchase.
The block currently produces an annual rental income of £64,500, which equates to a return of 8.06% at the asking price. Several of the apartments are let below the market value, with new lets reaching £850 per calendar month. If all apartments were let at this level, the maximum potential return would rise to 8.62%, underlining the strength of the investment.
The apartments are arranged two per floor and accessed via a communal entrance, with the shop enjoying its own separate access from the street. Each apartment features an open plan kitchen, living and dining space with fitted kitchen and breakfast bar, a double bedroom and a bathroom with bath, shower over, WC and basin.
The ground floor commercial unit is positioned to the front of the building, with steps leading to a rear storeroom, two utility rooms and a cloakroom. To the rear there is also parking available for the apartments, adding further appeal for tenants.
The property is held on a single freehold title, with the apartments and commercial unit not on separate leases. Each apartment falls within Council Tax Band A.
Agents Note
Freehold.
EPC Rating Range: E50 - D68
Tewkesbury Borough Council Band: A (For all flats)
Mains Gas, Electric and Water are connected.
Fibre Broadband is available in the area.
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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