0 Bed Apartment For Sale

FREEHOLD INVESTMENT OPPORTUNTIY - 66 East Street forms part of a larger Georgian property that is only a few minutes walk from the town centre. This landmark property has been refurbished over recent years to a high standard throughout. The property features a very good blend of period and contemporary features including box sash windows with echo sound-proofed glass, louvred to bathrooms and quality kitchen appliances.

The front door provides video entry to the communal entrance hall. The ground floor consists of the commercial property currently used as a reputable private dental practice servicing the local community.

The current configuration of the commercial property consists of an attractive reception to the front; three consulting rooms; and staff area.

From the ground floor the stairs rise to the 1st floor landing where there are independent doors to Apartments 3 and 4.

Apartment 3:

Inner hall
Sitting/dining room (4.8m x 4.1m)
Kitchen/breakfast room (3.1m x 2.7m)
Bedroom (3.8m x 3.8m)
Bathroom
Apartment 4:

Inner hall
Sitting/dining room (4.4m x 2.7m)
Kitchen (2.6m x 2.4m)
Bedroom 1 (4.4m x 3.1m)
Bedroom 2 (3.8m x 2.3m)
Bathroom
1st floor stairs rise to 2nd floor landing where there is an independent door to Apartment 4.

Apartment 5:

Inner hall
Sitting/dining room (4.7m x 3.3m)
Kitchen/breakfast (3.9m x 2.3m)
Bedroom (3.8m x 2.7m)
Bathroom
Outside

Car parking is available for each apartment via licence. There is also a combined bin area. Independent post
boxes are at the main entrance.

Services:
All mains services are connected. Gas fired central heating.

Tenure: Freehold

The property is not held within a Special Purpose Vehicle (SPV) so SDLT will be payable

Flat 3 lease granted on 25th December 2007 for 199 years

Flat 4 lease granted on 25th December 2007 for 199 years

Flat 5 held subject to a 5 year licence expires 2026

Ground floor commercial subject to a 20 year lease dated 27th August 2019 5 yearly rent reviews.

Energy Performance Certificates

Apartment 3 = C

Apartment 4 = D

Apartment 5 = D

Anti Money Laundering (AML)

A successful bidder will be requested to provide information to satisfy the AML requirements when Heads of Terms are
agreed.

Proposal

The property has a guide price of £1,400,000 for the freehold interest subject to existing tenancies and subject to contract.

A purchase that this level reflects the gross investment yield of 6.1% (based upon passing rent) and 7% on ERV.