5 Bed Apartment For Sale

**Turnkey Investment Opportunity** A newly refurbished block of 5 one bedroom apartments in a prime location in the centre of Falmouth, just a few minutes' walk to the high street and sea front.
Potential to generate a rental income of around £53,000 per year (providing a 6% - 7% gross yield) based on the flats being long-let. If the flats were used as holiday lets then the income generated could be more.

Each flat has an open-plan fitted kitchen and lounge, a shower room and a double bedroom. Some flats have lovely sea views.
Each kitchen is fitted with an electric oven and induction hob with a space for an under-counter fridge.
Each flat has its own hot water immersion heater and tank.

FOR SALE BY MODERN METHOD OF AUCTION
Tenure: Freehold
Off road parking for 1 car (or 2 small)
Grade II listed property
Electric heating and hot water
Chain free sale
Each flat has an EPC rating of D
To be sold with Vacant Posession
AUCTION CLOSE DATE TBC

LOCATION:
Clare Terrace is one of the town's most highly regarded residential harbour facing terraces, located in an elevated position just above the town centre. It is a convenient position within a few minutes walking distance of Woodlane, the town centre, the Dell railway station which provides a branchline onto Penryn and the University Campus, and then onto Truro connecting with the main Paddington to Penzance national rail network. The property is located within a few minutes' walk of Falmouth's seafront of Gyllyngvase and Castle beaches. A meander along Cliff Road leads up to Pendennis Headland with the magnificent Pendennis Castle, commissioned by Henry VIII, guarding Falmouth in 1540. Falmouth is exceptionally located on the south coast of Cornwall and has an abundance of local amenities as well as being well connected by roads and train services to the rest of Cornwall and beyond. Swathed in maritime history, Falmouth is now a vibrant hub for sporting and cultural pursuits. The south Cornish coast offers fabulous sea swimming, paddle boarding and hiking trails just a stone's throw away. There are numerous yacht and sailing clubs nearby with some of the finest day sailing waters in the UK and Falmouth Golf Club is located at Swanpool. Being home to the world famous Falmouth School of Art, Falmouth is a hub for the Arts in Cornwall, with the Princess Pavilion and The Poly offering a rich programme of events throughout the year.
 

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by i am sold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.