4 bed Flat For Sale £360,000
This is a small block of four purpose built apartments in a popular residential location in Exeter. Two apartments have been sold off on long leases previously and the remaining two are let under Assured Shorthold Tenancies. The seller is offering the opportunity to purchase the entire share of the capital of the limited company holding the asset. Cash buyers only.
ACCOMMODATION IN DETAIL COMPRISES (All dimensions approximate)
DESCRIPTION
3 and 4a Endfield Close form a small detached block of four two-bedroom apartments, all with their own entrance. The block dates from the mid 1970’s and is of conventional construction. Flat 3a (first floor) and 4 (ground floor) have been sold previously on long leases.
Flats 3 (ground floor) and 4a (first floor) are retained by the seller and currently let on Assured Shorthold Tenancies. Both units offer a living room, kitchen/diner, two good size bedrooms and a bathroom. Unusually they also both have private areas of garden and garages with a drive. Gas fired heating systems and double glazed windows area installed.
LOCATION
Endfield Close is a cul-de-sac off Sweetbriar Lane, a well regarded residential address in Exeter. The lose has a few small blocks of this type and a larger number of detached houses. There is a wide range of local services in the immediate area and regular bus services to Exeter City Centre.
PROPOSAL
The sale of the entire share capital of the limited company holding the asset. We are informed that the company was created to own this asset alone and has owned nothing else.
TENANCIES
Both 3 and 4a have had the same tenants in place for several years. As a result the rents may be considered below current market levels. Flat 3 is let at £750 per calendar month (pcm) and 4a at £600 pcm. We consider rents of £850 - £950 pcm to be achievable in the current market.
SERVICES
All mains services are available.
TENURE
FREEHOLD – with the benefit of the existing leases and tenancies.
DIRECTIONS
Proceeding out of Exeter down Heavitree Fore Street continue down, passing the parade of shops and petrol filling station, which connects to East Wonford Hill. At the traffic light junction bear left onto Honiton Road and at the next set of traffic lights turn left into Sweetbrier Lane and proceed along bearing left again into Sweetbrier Lane and then 1st right into Endfield Close.
VIEWING
Strictly by appointment with the Vendors Agents.
AGENTS NOTE
The information given in these particulars is intended to help you decide whether you wish to view this property and to avoid wasting your time in viewing unsuitable properties. We have tried to make sure that these particulars are accurate, but to a large extent we have to rely on what the seller tells us about the property. We do not check every single piece of information ourselves as the cost of doing so would be prohibitive and we do not wish to unnecessarily add to the cost of moving house.
Once you find the property you want to buy, you will need to carry out more check into the property than it is practical or reasonable for an estate agent to do when preparing sales particulars. For example, we have not carried out any kind of survey of the property to look for structural defects and would advise any homebuyer to obtain a surveyor’s report before exchanging contracts.
If you do not have your own surveyor, we would be pleased to recommend one. We have not checked whether any equipment in the property (such as central heating) is in working order and would advise homebuyers to check this.
You should also instruct a solicitor to check all legal matters relating to the property (e.g. title, planning permission, etc.) as these are specialist matters in which estate agents are not qualified. Your solicitor will also agree with the seller what items (e.g. carpets, curtains, etc.) will be included in the sale.
Please be aware that all measurements within these particulars are recorded with a sonic tape, and whilst every effort has been taken to ensure their accuracy potential purchasers are recommended to satisfy themselves before entering a contract to purchase.
AGENTS NOTE MONEY LAUNDERING POLICY
Samuels Estate Agents are committed to ensuring that it has adequate controls to counter money laundering activities and terrorist financing activities, in line with the Money Laundering Regulations 2007. Any prospective purchaser will be required to show proof of funds and identification. We ask for your cooperation on this matter in order that there will be no delay in the transaction.
COUNCIL TAX BAND: B (EXETER)
EPC RATING: C (77) (3 ENDFIELD CLOSE)
EPC RATING: C (76) (4A ENDFIELD CLOSE)
