THE LOCATION Situated in central Falmouth a stones throw from the main shopping thoroughfare and at the Maritime Square end of town. Falmouth is renowned for its beautiful period buildings and wonderful sailing waters; a true sailors town Falmouth has seen a renaissance over the past ten years and offers a vast array of bars, restaurants and pubs to suit all tastes. Famed for its many festivals and regattas, the town also offers a good selection of shops, from boutiques to high street retailers.
THE PROPERTY A profitable investment opportunity, sold with tenants in situ and offering a potential £14,400 per year income giving a 6.5% gross yield on the asking price. This three single bedroom apartment occupies the entire ground floor of this listed building in central Falmouth, originally two townhouses but now one and shared with two other flats on the first and second floor. This particular flat enjoys the bonuses of a private entrance and a courtyard to the rear for sole use of Flat 1. Recently renovated by the current owner with modern gas central heating and fully furnished for a sharing let; this property is let through Heather & Lay and ready to sell on to a landlord with a discerning eye for a good investment.
ACCOMODATION IN DETAIL (ALL MEASUREMENTS ARE APPROXIMATE)
ENTRANCE There are two ways of entering the apartment; a communal entrance with flats 2 & 3 or a private entrance direct from the path into…
LIVING ROOM 15′ 1″ x 14′ 9″ (4.6m x 4.5m) Large space for lounge and dining table. Carpet, light fitting, radiator, sash window to front aspect, power points, TV point, telephone line, sofa and two armchairs, dining table and four chairs. Doors to all other areas of the flat.
KITCHEN 11′ 9″ x 6′ 6″ (3.6m x 2.0m) Nice light room due to sash window and glazed door to garden. Vinyl flooring, radiator, 2 x light fittings. Kitchen comprising: range of base and eye level units with inset sink and drainer. Electric cooker with four ring gas hob, washing machine, base level fridge/freezer. Inset shelving, extractor, power points and gas combination Worcester boiler.
BEDROOM ONE 10′ 9″ x 7′ 2″ (3.3m x 2.2m) 7m2 room on the same level as kitchen and living room. Carpet, radiator, sash window to rear aspect, light fitting, single bed, wardrobe, desk and chair.
Down four steps from living room to lower level of flat, hallway and access to…
BEDROOM TWO 11′ 9″ x 7′ 2″ (3.6m x 2.2m) 8m2 room, carpet, radiator, sash window to front aspect, light fitting, single bed, wardrobe, desk, chair.
BEDROOM THREE 11′ 9″ x 6′ 10″ (3.6m x 2.1m) 7.4m2 room, carpet, radiator, sash window to side aspect, light fitting, single bed, wardrobe, desk, chair.
BATHROOM 7′ 10″ x 6′ 10″ (2.4m x 2.1m) Light and large room with vinyl floor, radiator, sash window to rear aspect. Comprising bath AND separate shower, low level flush WC, pedestal wash basin, mirror, towel rail.
GARDEN Large courtyard space, paved, enclosed, shed and with rear access.
TENURE Leasehold 999 years from 2010. The three owners of the flats in the building each own a share of the freehold and in turn manage the property privately. Service charge £660 per year.
AGENTS NOTE Details of the current rental income and potential rental income as well as the current tenancy agreements can be obtained from the agent, please contact the office to discuss.