36 Hide Hill
Berwick-upon-tweed
Northumberland
TD15 1AB
Love Lane, Berwick-Upon-Tweed
Offers In The Region Of £235,000
2 Bedroom Apartment
- Communal Entrance Hall
- 3 Apartments
- Excellent Investment Opportunity
- Potential 8% Yield
- Town Centre Location
We are pleased to bring to the market this superb investment opportunity, which comprises of three modern apartments, which is located in a central position close to the old quayside and within easy walking distance to shops, restaurants, the railway station and lovely walks along the historic town walls.
The Old Cooperage comprises of three flats, which have been modernised and upgraded to a high standard. The building is entered from Love Lane and has a door entry phone system. The entrance hall has stairs to the apartments with a useful understairs storage area, which is being used for bicycles.
Flat 1 is currently being run as an AirBnd, which comprises of a living room with ample space for reception room furniture, a modern fitted kitchen, a modern bathroom and a generous double bedroom. The apartment has electric heating. The apartment is achieving approximately £550 per calendar month.
Flat 2 located on the second floor level, this apartment has being rented out on a long term rental. The accommodation comprises of an entrance hall, living room, kitchen, two bedrooms and shower room. The property has electric heating. The apartment would achieve approximately £600 per calendar month.
Flat 3 is located on the third floor level, which is currently rented with a long term tenant who has been given notice and is due to leave in November, but she would very happily remain if the new owner wanted to renew. The accommodation comprises of entrance hall, living room, kitchen, bathroom, bedroom and a study. Full electric heating.
The present owners have modernised and upgraded the apartments, which includes modern bathrooms and kitchens, modern decoration throughout.
The total rent, should the new owner not wish to continue with Airbnb, would be around £1600 per calendar month (gross yield of between 8% & 9%). This investment opportunity is a very attractive proposition.
-Electric heating
- Mains water, electric & drainage.
- Flat 1 & 2 - EPC (D)
- Flat 3 - EPC (E)
Services- Mains water, electric and drainage.
Council tax bands- All three flats are band A.
Energy Performance Ratings:
Flat 1- D.
Flat 2-C.
Flat 3- D.
Tenure-Leasehold- 999 year lease from 1997
Ground rent- Peppercorn.
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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