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- Investment
This property comprises of four one bedroom and four two bedroom self contained flats valued at: Both buildings are within three hundred yards of each other and approximately a five minute walk from the new developments at the town centre and the harbour. Both buildings have been converted within the last two and a half years and have undergone a complete overhaul. They require minimum maintenance. And there is a caretaker who monitors the situation and liaises with tenants, he is responsible for cleaning of the common areas i.e. corridors and staircases and charges £50.00 per month for this service. There is also a local contractor who carries out maintenance repairs that may arise to the external or common areas in accordance with the terms of the agreement with Shepway District Council to whom the buildings are leased on a three year agreement. Part of the agreement states that Shepway maintain the actual flats internally and if and when this agreement ends, they are contracted to hand the properties back in their original condition, the rent is guaranteed whether the flats are tenanted or not. Rents are paid quarterly at annual rate of : Dover Road £34,328.00 Bellevue Road £16,560.00. It should be noted that these properties are in a regeneration area highlighted by the harbour and town centre redevelopments, the new university buildings and the new high speed rail link to London.
Property reference: stef999000194
