Town Centre Residential Investment For Sale

34 Warwick Road, Worthing, BN11 3ER

Quick Summary

£350,000 Price Description: Offers in Excess of Units: 5 Floors: 3 Type: Commercial, Investment Status: Under Offer

Property Description

An opportunity to purchase the freehold interest of a licensed HMO situated in an excellent location close to Worthing seafront and Town Centre.

The end terrace property offers accommodation comprising of a large self-contained one bed flat at ground floor level and four studio rooms with shared shower and WC facilities over first and second floors.

There is a gas fired central heating system to the property, shared laundry facilities and each flat has its own electric coin meter.

The property is situated in a central location, within walking distance of the town’s main shopping areas and just yards from the seafront and promenade. Warwick Road benefits from resident’s permit parking, whilst Worthing’s mainline railway station is approximately one mile distant and bus services run nearby.

The property is unencumbered from any leasehold interests, with all flats occupied and let on Assured Shorthold Tenancies producing a gross annual income of £26,280.

Please call for further information.

 

ACCOMMODATION:

 

FLAT 1 – GOUND FLOOR

Entrance Hall

Lounge              14’7 x 13’4

Dinning Room   11’3 x 10’3

Kitchen             10’3 x 7’7

Bedroom           13’6 x 12’7

Bathroom          Unmeasured

 

FLAT 2 – FIRST FLOOR

Studio Room      11’5 x 12’

 

FLAT 3 – FIRST FLOOR

Studio Room      13’10 x 12’1

Shower Room

 

FLAT 4 – SECOND FLOOR

Studio Room      13’10 x 12’1

 

FLAT 5 – SECOND FLOOR

Studio Room      15’10 x 12’1

 

COMMUNAL FACILITIES:

There are three WCs, three shower cubicles and laundry facilities situated on the first floor.

 

EXTERNAL:

There is a rear garden accessed from Flat 1.

 

 

TENANTS/INCOME:

All of the flats are let on Assured Shorthold Tenancies, some have now rolled over to periodic.

 

Each flat has its own electricity coin meter and the rents are inclusive of Council Tax, central heating and water.

 

The rent schedule is as follows:

 

Flat 1                £560 pcm

Flat 2                £390 pcm

Flat 3                £450 pcm

Flat 4                £390 pcm

Flat 5                £400 pcm

 

TOTAL              £2,190 pcm (£26,280 pa)

 

EXPENDITURE:

We are advised that the annual expenditure on for Council Tax, water, gas and common way electrics is in the region on £4,000.

 

 

TENURE:

Freehold

 

ASKING PRICE:

Offers are invited in excess of £350,000.

 

 

ENERGY PERFORMANCE CERTIFICATES:

Copies of the Energy Performance Certificates and Recommendation Reports are available upon request.

 

VIEWING:

The building is fully occupied, all viewings are strictly by prior appointment with Spratt and Son:

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