Lot 148: FREEHOLD TOWN CENTRE BLOCK OF 14 FLATS

Available At £650,000 + Fees
22, 22a, 23 & 23a Cross Street,
Flats 1-9 Bishops Court & 21a,
Newport,
Isle Of Wight. PO30 1PW

Currently let at £39,350 per annum plus one vacant flat

Previously fully let at £46,250 per annum

Viewing by arrangement with Clive Emson Auctioneers

01489 564606

Mike Marchant/Rob Marchant

Situated a short walk from the centre of Newport, the Isle of Wight’s County Town, this freehold block of 14 apartments is considered ideal for addition to an income-producing property portfolio.

Seven of the 14 flats have been sold on a long leasehold basis producing ground rentals of £50 per annum per flat.

Six of the seven flats are let under the terms of Assured Shorthold Tenancy Agreements which are detailed below.

Accommodation

Each flat comprises living room, kitchen, bathroom with W.C. and two bedrooms.

Bishops Court

Flat 4

Tenancy

Let on an Assured Shorthold Tenancy Agreement, from 19th November 2015, at a current rental of £550 per calendar month.

Flat 6

Tenancy

Let on an Assured Shorthold Tenancy Agreement, from 28th June 2017, at a current rental of £550 per calendar month.

Flat 7

Tenancy

Let on an Assured Shorthold Tenancy Agreement, from 21st February 2016, at a current rental of £525 per calendar month.

Cross Street

Flat 21A

Tenancy

Let on an Assured Shorthold Tenancy Agreement, from 13th February 2016, at a current rental of £525 per calendar month.

Flat 22

Tenancy

Let on an Assured Shorthold Tenancy Agreement, from 5th September 2016, at a current rental of £550 per calendar month.

Flat 22A

Tenancy

Let on an Assured Shorthold Tenancy from 14th February 2017 at a current rental of £550 per calendar month.

Flat 23

Tenancy

Currently vacant.

Flats 1, 2, 3, 5, 8 & 9 Bishops Court & Flat 23A Cross Street

Each with a living room, kitchen, bathroom with W.C. and two bedrooms.

Tenure

All sold on a long leasehold basis for a term of 999 years from 24th June 2006 at a current ground rental of £50 per flat, per annum.

Outside

Central courtyard/communal garden.

Residential EPC: B

Map

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