Studio for sale in Palace View Terrace, Douglas, Isle Of Man IM2

Well presented modern purpose built first floor studio apartment located just off Douglas Promenade within close proximity to the town centre, business district and beach.

Capable of achieving a rental price of £700pcm as a single occupancy property that would generate a gross yield of 6.22%.

Summary

A property that may appeal to first time buyers and investors, Palace View is a well presented modern purpose built first floor single occupancy studio apartment located just off Douglas Promenade within close proximity to the town centre, business district and beach.

Approaching 420 square feet in size, this is a well proportioned studio apartment, and is generally 20%-25% larger than the equivalent studio when compared on a like for like basis for those available within the Spectrum apartment block located further along the promenade.

The building itself is of modern construction, with a modern lobby space including secure entrance door, individual buzzer system and lift access. Apartment 4 can be found up one flight of stairs on the first floor. A large Entrance Hall provides plenty of space for coats and shoes. Directly opposite the Studio Room is professionally partitioned off from the Bedroom, to provide the separation of a traditional one bedroom flat, however with an opening opposed to a door.

Two large windows in the Lounge Diner ensure the room is light and bright. Generously proportioned there is enough space of sofas and dining or work from home space, which is complemented by fibre broadband connectivity. A storage cupboard houses a pressurised water cylinder as well as also providing further functional storage space. Off the Lounge a door leads to the Kitchen equipped with washing machine, free standing fridge freezer, 1.5 sink basin and drainer as well as an electric oven, hob and cooker hood. Each of the appliances is included within the sale. Shaker style wall and base units and a contrasting counter top provides ample working and storage space within the Kitchen.

An opening from the Lounge leads to the partitioned sleeping area, with built in wardrobes and enough space for a double bed. Located off the Hallway is a modern Bathroom with a bath with shower over, pedestal wash basin and WC.

Investors may be interested to learn that the property would achieve £700pcm on the rental market representing a gross yield of 6.22%.

The property is for sale with no onward chain and has just been fully redecorated.

Additional Information

- Electric Storage Heating
- Double Glazed
- Secure Entry System
- Recently Redecorated
- LIft Access
- Capable of achieving £700pcm on the rental market
- Vacant Possession Available Early December 2023
- Rates (inc Water) - £703.19 (23/24)
- Annual Management Fee - £608.18 (23/24)
- Annual Ground Rent - £10

Directions

Travelling along Douglas Promenade from the sea terminal continue past both roundels, taking a left turn immediately after passing the Palace Hotel onto Palace View Terrace and the building can be found behind Queens Apartments on the right hand side.