Block of flats for sale in London Road, East Grinstead RH19

Investment Consideration:
Gross Initial Yield: 6.14%
Rental Income: £38,400 p.a.
VAT is not applicable to this property
Comprises block of 2 x 1-bed and 2 x studio flats
Newly converted in 2022/2023 to a high standard
Within close proximity to local retailers including Londis Convenience Store, Pharmacy, Café and more.

Property Description:
The property comprises residential block of 2 x 1-bed and 2 x studio flats, newly developed/converted in 2022/2023, providing the following accommodation and dimensions:
Flat 31A: 39 sq m (420 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
Flat 31B: 42 sq m (452 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom
Flat 31C: 34 sq m (366 sq ft)
Double Bed, Kitchen, Storage, Bathroom
Flat 31D: 30 sq m (323 sq ft)
Double Bed, Kitchen, Storage, Bathroom

Total NIA: 145 sq m (1,561 sq ft)

Tenancy:
Flat 31A is at present let on AST to S&G Properties Solutions for a term of 12 Months from 6th February 2023 at a current rent of £9,600 p.a. Deposit held of £923.
Flat 31B is at present let on AST to S&G Properties Solutions for a term of 12 Months from 6th February 2023 at a current rent of £10,800 p.a. Deposit held of £1,037.
Flat 31C is at present let on AST to S&G Properties Solutions for a term of 12 Months from 3rd October 2023 at a current rent of £9,600 p.a. Deposit held of £807.69.
Flat 31D is at present let on clt to S&G Properties Solutions for a term of 12 Months from 4th May 2023 at a current rent of £8,400 p.a. Deposit held of £806.

Location:
The town benefits from excellent road and rail connections being on the A22 with Junction 6 of the M25 10 miles to the North and the M23 7 miles to the West. East Grinstead Railway Station provides regular services to Croydon and London Victoria. The premises are located in a prominent position fronting the London Road which forms one of the main roads into East Grinstead within close proximity to local retailers including Londis Convenience Store, Pharmacy, Café and more.