11 bed block of flats for sale

Flats 1-8 East Lynne, Temple Street, Llandrindod Wells, Powys LD1

For sale by online auction - Lot 68 - Residential Investment
Bidding opens: 01/10/2024 12:00
Auction scheduled to end: 03/10/2024 19:10

online auction from 1st october-3rd October

Situated in the historic spa town of Llandrindod wells, an opportunity to purchase an investment property consisting of 8 self contained apartments located in a large Victorian property, situated in a terrace of 3 similar properties.

The property has undergone extensive refurbishment in the last few years, with all new wiring, central heating systems and decoration throughout. All apartments are currently let and based on the current for sale price, the property returns just over 9% income per annum.

Briefly the property comprises: Five one-bedroom flats and three two bedroom flats, all flats benefit from full central heating with individual electric boilers and radiators. All tenancies are by way off the new occupation contracts.

Llandrindod Wells has a mix of small independent shops, eateries and public houses, doctors, dentists, hospital with a small injury department, library, high school, two supermarkets, leisure centre, golf course, train, bus station and boating lake. The whole area around Llandrindod Wells is noted for its stunning scenery and the range of outdoor activities on offer.

Tenure:
Advised Freehold - to be verified by solicitor

Tenancies:
The property is fully let -
Flat 1 - £350
Flat 2 - £260
Flat 3 - £321.91
Flat 4 - £260
Flat 5 - £350
Flat 6 - £260
Flat 7 - £450
Flat 8 £350
Total per month at present £2630 = £31,560 per annum - the rents go up 1st November to £3030pcm = £36,360 per annum