1 bed Flat For Sale £550,000
Princes Street, Yeovil, Somerset, BA20

A superb investment opportunity in the centre of Yeovil, consisting of six occupied rental flats, currently providing annual income of £38,600 with potential for further uplift.


First and second floors, 30-32 Princes Street provide three two bedroom flats and three one bedroom flats. The two bedroom flats are let at £600 per calendar month, and the one bedroom flats are let at £500 pcm. The property currently generates rental income of £39,600 per annum.

The property has potential to provide annual rental income of approximately £44,000 per annum. Each flat is held on a long lease for a term expiring July 2146 (122 years unexpired) at a current ground rent of £50 each, a total annual ground rent of £300 subject to periodic uplifts.

The windows to the property have been recently replaced with new UPVC windows and internally the flats are well decorated and maintained throughout.

The flats are fully occupied and landlord’s running costs are low.

The property provides an attractive residential investment opportunity.

Flat 1 on the first floor, with kitchen/diner (11’1 x 7’8, 12’2 x 6’10), bedroom (9’1 x 10’9 plus bay) and bathroom (6’2 x 5’7).

Flat 2 on the first floor with kitchen (10’5 x 8’), living room (8’10 x 14’3 plus bay), bedroom one (10’9 x 10’), bedroom two (7’2 x 17’ max) and bathroom (5’11 x 6’8).

Flat 3 on the first floor with kitchen/diner (10’4 x 23’9), bedroom one (10’4 max x 10’10), bedroom two (6’3 max x 15’7) and bathroom (6’1 max x1 10’11 max).

Flat 4 on the second floor with kitchen/diner (11’10 x 23’9), bedroom (8’6 x 13’4) and bathroom (5’4 x 6’5).

Flat 5 on the second floor with kitchen/diner (9’4 max x 17’11 max), bedroom 1 (11’10 x 9’4), bedroom 2 (10’1 x 13’10) and bathroom (6’2 x 6’5).

Flat 6 on the second floor with kitchen/diner (15’ x 10’1), bedroom (8’1 x 17’3) and bathroom (5’7 max x 11’6).

Well maintained communal areas service the flats.

TENURE

The property is offered on a long leasehold basis with each flat’s lease having been extended in April 2023 to expire in July 2146 at a passing ground rent of £50 per annum, per flat.

SERVICES & OUTGOINGS

We understand that mains electricity, water and drainage are connected to the property. Heating is via electric wall mounted heaters.

EPC

Flat 1: Band D
Flat 2: Band D
Flat 3: Band D
Flat 4: Band C
Flat 5: Band C
Flat 6: Band D

The property is conveniently situated on Princes Street in the town centre of Yeovil. Yeovil itself is a thriving market town surrounded by beautiful countryside offering good shopping, business, cultural and leisure activities including a multi-screen cinema and adjacent ten pin bowling, public swimming pool, Nuffield Health Club, the Octagon theatre along with an excellent range of restaurants and bars. Yeovil Penn Mill train station being a short distance away and bus stops available within the area.