Studio Flat For Sale £290,000
**Under Offer** residential investment opportunity Located in a Popular Central Area.
Summary of features:
•Block Containing 6 Studio Flats;
•Income of circa £24,000/annum;
•Access off Popular West Street;
•Well Maintained Benefitting from Active Management.
Situation
The block of studio flats at Stagecoach Lodge occupy an area to the rear of The Stagecoach Pub near the centre of Hereford. The building itself is terraced and benefits from access off West Street itself.
In the immediate vicinity there are retail and office uses, with the biggest occupiers nearby being The Green Dragon Hotel. It is also noted there are a number of eateries and bars such as The Stagecoach Pub and the popular Bookshop and Burgershop restaurants. At one side of West Street new student accommodation has recently been completed, with students expected to occupy from September 2023.
Description
The block of studio flats comprise red brick elevations beneath a pitched tiled roof.
The property is accessed off the busy West Street, across the area known as Stagecoach Mews. At the northern end of the Mews is an alleyway through the Mews itself which leads directly to Stage Coach Lodge.
The block itself is well presented with an external yard area providing access to 3 ground floor studio flats. There are 2 staircases giving access to the first floor – 1 being a casement spiral staircase leading to a self contained balcony outside Flat 6, while the staircase to the west of the Lodge is internal and leads to Flats 8 and 9.
Externally there is a shared yard which is currently used for bin storage. This yard area is also used for access by Flat 7 which is not included in this transaction.
The flats themselves are presented to a good standard internally, with the owner being actively involved with the management as well as employing a lettings agent to assist with management. It is also noted that the building as a whole appears in good condition with no potential issues noted during inspection.
Summary of features:
•Block Containing 6 Studio Flats;
•Income of circa £24,000/annum;
•Access off Popular West Street;
•Well Maintained Benefitting from Active Management.
Situation
The block of studio flats at Stagecoach Lodge occupy an area to the rear of The Stagecoach Pub near the centre of Hereford. The building itself is terraced and benefits from access off West Street itself.
In the immediate vicinity there are retail and office uses, with the biggest occupiers nearby being The Green Dragon Hotel. It is also noted there are a number of eateries and bars such as The Stagecoach Pub and the popular Bookshop and Burgershop restaurants. At one side of West Street new student accommodation has recently been completed, with students expected to occupy from September 2023.
Description
The block of studio flats comprise red brick elevations beneath a pitched tiled roof.
The property is accessed off the busy West Street, across the area known as Stagecoach Mews. At the northern end of the Mews is an alleyway through the Mews itself which leads directly to Stage Coach Lodge.
The block itself is well presented with an external yard area providing access to 3 ground floor studio flats. There are 2 staircases giving access to the first floor – 1 being a casement spiral staircase leading to a self contained balcony outside Flat 6, while the staircase to the west of the Lodge is internal and leads to Flats 8 and 9.
Externally there is a shared yard which is currently used for bin storage. This yard area is also used for access by Flat 7 which is not included in this transaction.
The flats themselves are presented to a good standard internally, with the owner being actively involved with the management as well as employing a lettings agent to assist with management. It is also noted that the building as a whole appears in good condition with no potential issues noted during inspection.
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