House For Sale £590,000
For sale by auction.
7 Leicester Street dates from the early 20th century and is attached to the left hand side and rear.
Leicester Street is centrally located at the end of the Lord Street Boulevard leading directly the Marine Lake and Promenade.
The property is leasehold on a 999 year lease dating from 2006 at a rent of £10 per annum.
The property comprises 8 self-contained flats consisting of 5 one-bedroom and 3 two-bedroom.
The basement workshop is leased to one of the owner's other companies.
All the tenancies are subject to Assured Shorthold Tenancies save for the basement which is leased on a Licence to Occupy.
Each flat is separately metered for electricity and tenants have their own contracts.
Gas central heating is supplied by the Landlord between October & March annually.
This is currently included within the rent, as are water charges.
To the front of the building there is car parking for up to five vehicles.
To the rear of the building there is a small balcony area.
The property is within walking distance from three parks - Hesketh, Kings & Victoria.
The current gross income is £55,680 per annum, largely based on historic rates.
Water and gas average around £2000 p/a, producing a net income of £53,180 and a return of 9.25%.
7 Leicester Street dates from the early 20th century and is attached to the left hand side and rear.
Leicester Street is centrally located at the end of the Lord Street Boulevard leading directly the Marine Lake and Promenade.
The property is leasehold on a 999 year lease dating from 2006 at a rent of £10 per annum.
The property comprises 8 self-contained flats consisting of 5 one-bedroom and 3 two-bedroom.
The basement workshop is leased to one of the owner's other companies.
All the tenancies are subject to Assured Shorthold Tenancies save for the basement which is leased on a Licence to Occupy.
Each flat is separately metered for electricity and tenants have their own contracts.
Gas central heating is supplied by the Landlord between October & March annually.
This is currently included within the rent, as are water charges.
To the front of the building there is car parking for up to five vehicles.
To the rear of the building there is a small balcony area.
The property is within walking distance from three parks - Hesketh, Kings & Victoria.
The current gross income is £55,680 per annum, largely based on historic rates.
Water and gas average around £2000 p/a, producing a net income of £53,180 and a return of 9.25%.
