The freehold sale of a purpose built block of six flats creating an exciting residential investment opportunity with guaranteed rental income for a period of twelve months following completion

The property comprises the freehold of a modern block in a prominent corner location and includes the entire building. The property is close to the centre of Rushden town and was constructed in 2008 and each flat is let on an Assured Shorthold Tenancy. The vendor will offer the purchaser a leaseback arrangement with a rental guarantee of £38,500 for a fixed term of twelve months from completion. The property is arranged over three floors, together with private allocated parking spaces to the rear, where there is also a bin store and store room.

Tenure

Freehold

Ground Floor Flat 2

Entrance hall, open plan kitchen/living room, bedroom one, bedroom two and bathroom

Ground Floor Flat 4

Entrance hall, living room/kitchen, bedroom one, bedroom two and bathroom

First Floor Flat 6

Entrance hall, living room, bedroom one, bedroom two and bathroom

First Floor Flat 8

Entrance hall, kitchen/living room, bedroom and bathroom

Second Floor Flat 10

Entrance hall, living room/kitchen, bedroom one, bedroom two and bathroom

Second Floor Flat 12

Entrance hall, living room, turret room, kitchen, bedroom one, bedroom two, bedroom three and bathroom

Leaseback Arrangement

The seller will offer the purchaser a leaseback by taking a Head Lease paying a rent of £38,500 for a term of 12 months following the completion of the sale. The seller will be responsible for the letting of the individual flats on Assured Shorthold Tenancies and will be entitled to receive all rents from those lettings during the fixed term. At the end of the fixed term the leaseback arrangement will cease and the purchaser will be entitled to receive rents direct from the tenants.

Services

Main drainage, gas, water and electricity are connected. Space heating to each flat is through individual gas fired boilers also providing the domestic hot water. (None of these services has been tested).

Services

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

Local Authority

East Northamptonshire Council

Solicitors

Davis Law Associates, The Chambers, Bishops House, Market Place, Chalfont St Peter, Bucks SL9 9HE, Tel: 01753 888776

Additional Fees

Administration Charge - Please see above details

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