1 bed Flat For Sale £75,000
High Street, Bognor Regis PO21

A first floor studio apartment located above shops in the town centre. With a cavernous living area, separate kitchen and bathroom, this property is ideally suited to landlords looking for an investment. Passing rent at £600 pcm.

Our comments: With a truly cavernous main room, this first floor studio is located directly in the heart of Bognor Regis town centre above the Clock Walk Café. Separate kitchen and bathroom mean that the studio space is not compromised, creating one of the largest studio units that we have seen. Offered for sale with a 67 year lease and with an incumbent tenant, this is an ideal for investment for landlords.

The current tenancy is an AST at £600 pcm (gross yield of 8%). The tenancy is due to be renewed in February 2021, notice has not been issued.

Other benefits include an allocated parking space, electric night storage heating and plastic single glazed windows. Please note the property is located above commercial units and is suited to cash buyers only.

Studio: 16' 1" x 19' 11" (4.92m x 6.09m)

Kitchen: 7' 10" x 5' 4" (2.41m x 1.63m)

Bathroom: 6' 2" x 7' 11" (1.89m x 2.42m)

Lease Information: The vendor informs us that there are approx. 67 years left on the current lease. Annual costs are circa £1000 per year including ground rent, insurance and maintenance payments (tbc). For those who may wish to renew the lease, upon your request the seller will issue a statutory lease renewal notice to the Freeholder between exchange and completion.

Casual discussions between the seller and the freeholder imply that the lease renewal premium will be in the region of £25,000 (tbc) + legal costs.

We have not sighted documents to evidence this and advise that should you proceed to purchase this property this should be checked by your conveyancer.