A substantial multi income stream investment producing over £100,000 per annum

Situated in the Hythe area East of Colchester town centre convenient for the station and University is this fantastic investment opportunity comprising 8 x 3 bedroom flats for student lets. The properties are within a c.1970’s built detached block of 9 flats all with double glazing, central heating and ample communal parking and held on a 125 year lease from 2007. On site management is provided by the Mansion Group and details of the ground rent, service and management charges are contained within the online Legal Pack The 3 bedrooms in each flat are let individually on a 48 week contract with 100% occupancy for 2014/2015 and, at the time of writing, all but one room confirmed for 2015/2016. The total income of £102,314 represents a gross yield of over 13.6% based on the Guide Price and therefore represents what must be a virtually unrivalled investment opportunity.

Tenure

Leasehold

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Colchester Borough Council. Tel: 01206 282222

Solicitors

Drydens Fairfax, Shire House, 2 Humboldt Street, Bradford, West Yorkshire BD1 5HQ, Ref: Scott Quinn, Tel: 01274 378072

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.