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Investment opportunity located in Boscombe available for sale, Boscombe £739,950 Offers in the Region of

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Property description

Ref. No: 8353
(please use in any correspondence)

Investment opportunity available with potential development at rear of garden (Bin Store area); the existing semi-detached house has been converted into 5 x flats and a massionette, main entrance to side of property.

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Investment opportunity available with potential development at rear of garden (Bin Store area); the existing semi-detached house has been converted into 5 x flats and a massionette, main entrance to side of property.

The building comprises of: Ground floor: Flat 1: lounge, kitchen, bedroom and bathroom Flat 2: lounge, kitchen, 2 x bedrooms and bathroom. Flat 3: living room/open plan kitchen, 2 x bedroom and bathroom. First floor: Flat 4: lounge, kitchen, 2 x bedrooms and bathroom. Flat 5: (top floor) lounge, kitchen, 2 x bedrooms and bathroom. Maisonette at rear of property over 3 x floors Lounge, kitchen, Conservatory, 3 x bedrooms and 2 x bathroom. Outside: at the front of the property there are 4 x parking spaces and a driveway at the left hand side leading to the rear. To the rear of the garden there is potential to build a house/bungalow stpp. Please note that an unconditional purchase is required. Please see Floor plans. The current income from the property is approximately £51,000.00 p.a. gross, this gives a return of 6.89% based on the asking price. The vendor has indicated that there is potential to improve the rental return to approximately £55,000.00 p.a. gross. Please note that I have not internally inspected the property. The Gdv of the units if sold separately is approximately £810,000.00. For further details please contact Andrew Hooper on 01202 779911. More development and investments available on our web site: www.churchfield.uk.com

For further details please contact Andrew Hooper on 01202 779911. More development and investments available on our web site: www.churchfield.uk.com

We confirm that we have instructed Churchfield to act on our behalf in the acquisition of the above Land, Development or Investment site (s), at an agreed fee of 1.5% +vat (minimum fee of £2,000 + vat). For any Land, Development or Investments acquired, Churchfield must be instructed as sole agents to re-sell either, the existing or finished units at 1.5% + vat or re-let at 8% + vat (fully managed). Churchfield to be instructed to market the acquired property/s or the developed properties on a sole agency basis within three years of completion. We agree that if the existing acquisition/s is/are sold or let by the purchaser/s or other/s during the three year period, an additional fee of 2.5% + vat (Minimum fee £3,000.00 + vat) in addition to any other costs or charges agreed will be payable to Churchfield. For Developed/Completed projects sold let by the purchaser/s or other/s within the three year period Churchfield will receive commission of 2.5% + vat (minimum fee of £3,000 + vat) calculated on the achieved GDV of the completed unit/s in addition to any other costs or charges agreed. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest. VAT to be charged at the prevailing rate.

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