Block of flats for sale in Newport Street, Tiverton EX16

An excellent opportunity to acquire this great block of four, self contained apartments earning a gross rental income of £25440 per annum. All let to excellent tenants on AST tenancy agreements, this great investment ticks every box, with a basement offering further potential for possible use (subject to planning approval).

Description

Formally a Public House and believed to date back to as early as the 1860s, this Grade II listed property retains many great features including beautiful sash windows and the Tiverton renowned Lamb statue, perched high on the curved edge of this unique building. Recently upgraded to a high standard, each of these great apartments now include modern kitchens (with cookers installed and plumbing for a washing machine) and bathrooms, good carpets and recent redecoration plus gas central heating installed. Not only do the flats all benefit from secondary glazing, but they all have air circulation units.

There is great further development opportunities found within both the basement and loft space (Subject to planning permissions). The basement is accessed externally, with three large rooms spanning over 52m2 collectively. The loft space offers two good size rooms, one accessed via 2b, and the other 2c, both with dormer windows.

Externally, there is a small courtyard to the front of 2d, plus a useful bin store for all the apartments.

2A - Epc Rating D

Earning a rental income of £495 pcm, this apartment is situated on the ground floor. Its entrance is to the side of the building, opening into a spacious entrance hallway. To the right, the living room is bright and spacious, with tall ceilings. There are good fitted wardrobes providing storage. The kitchen offers a range of wall and base units in a modern gloss finish with a red tile splash back.
The double bedroom is to the rear, along with a modern fitted shower enclosure, a WC and a hand basin.

2B - Epc Rating C

An external flight of stairs lead to the first floor with a door to the entrance hallway, with doors to all rooms. The kitchen has a good range of wall and base gloss units, with plumbing for a washing machine. The living room is bright and airy, benefitting from a large storage cupboard. The double bedroom is also large, serviced by a bathroom with a shower over the bath and a large storage cupboard. This property earns a rental income of £575 pcm.

2C - Epc Rating D

Earning a rental income of £500PCM, this property is also on the first floor. There is a fitted kitchen, a large lounge, bedroom and a shower room.

2D - Epc Rating C

The same floorplan as 2B, apartment D benefits from its ground floor, level entrance. This apartment earns a rental income of £550 pcm.

Services, Council Tax & Tenure

Mains gas, electricity, water and drainage.
Freehold tenure.
Council Tax band A for all apartments.