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4 bed block of flats for sale

£525,000

Newport Street, Tiverton EX16

4 bed block of flats for sale 4 4 4
Interested in this property? Call +44 1884 685892 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Four, one bedroom apartments
  • Grade II listed building
  • Former Public House
  • Central Tiverton location
  • Modern fitted kitchens and bathrooms
  • Further potential in basement and loft spaces (STP)
  • Current gross annual income of £25,440
  • Gas central heating

Property description

An excellent opportunity to acquire this great block of four, self contained apartments earning a gross rental income of £25440 per annum. All let to excellent tenants on AST tenancy agreements, this great investment ticks every box, with a basement offering further potential for possible use (subject to planning approval).

Description

Formally a Public House and believed to date back to as early as the 1860s, this Grade II listed property retains many great features including beautiful sash windows and the Tiverton renowned Lamb statue, perched high on the curved edge of this unique building. Recently upgraded to a high standard, each of these great apartments now include modern kitchens (with cookers installed and plumbing for a washing machine) and bathrooms, good carpets and recent redecoration plus gas central heating installed. Not only do the flats all benefit from secondary glazing, but they all have air circulation units.

There is great further development opportunities found within both the basement and loft space (Subject to planning permissions). The basement is accessed externally, with three large rooms spanning over 52m2 collectively. The loft space offers two good size rooms, one accessed via 2b, and the other 2c, both with dormer windows.

Externally, there is a small courtyard to the front of 2d, plus a useful bin store for all the apartments.

2A - Epc Rating D

Earning a rental income of £495 pcm, this apartment is situated on the ground floor. Its entrance is to the side of the building, opening into a spacious entrance hallway. To the right, the living room is bright and spacious, with tall ceilings. There are good fitted wardrobes providing storage. The kitchen offers a range of wall and base units in a modern gloss finish with a red tile splash back.
The double bedroom is to the rear, along with a modern fitted shower enclosure, a WC and a hand basin.

2B - Epc Rating C

An external flight of stairs lead to the first floor with a door to the entrance hallway, with doors to all rooms. The kitchen has a good range of wall and base gloss units, with plumbing for a washing machine. The living room is bright and airy, benefitting from a large storage cupboard. The double bedroom is also large, serviced by a bathroom with a shower over the bath and a large storage cupboard. This property earns a rental income of £575 pcm.

2C - Epc Rating D

Earning a rental income of £500PCM, this property is also on the first floor. There is a fitted kitchen, a large lounge, bedroom and a shower room.

2D - Epc Rating C

The same floorplan as 2B, apartment D benefits from its ground floor, level entrance. This apartment earns a rental income of £550 pcm.

Services, Council Tax & Tenure

Mains gas, electricity, water and drainage.
Freehold tenure.
Council Tax band A for all apartments.

Property info

Lamb Flats, Newport Street, Tiverton.Jpg View original

Property value data/graphs for EX16

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £460,990 £233 3.8 £477,995
Semi-detached £290,865 £217 3.1 £293,690
Terraced £263,474 £199 2.9 £245,345
Flats £170,614 £177 1.8 £159,251

Current asking prices in EX16

Average: £374,854
Avg. current asking prices in EX16
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £135,714
(7)
£250,782
(56)
£318,178
(104)
£457,184
(70)
£672,619
(21)
Flats £119,444
(9)
£184,575
(6)
£277,500
(2)
- -
All £126,562
(16)
£244,375
(62)
£317,411
(106)
£457,184
(70)
£672,619
(21)

Current asking rents in EX16

Average: £1,139 pcm
Avg. current asking prices in EX16
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £572 pcm
(3)
£1,156 pcm
(4)
£1,146 pcm
(6)
£1,499 pcm
(1)
£1,900 pcm
(2)
Flats £506 pcm
(4)
£823 pcm
(1)
- - -
All £534 pcm
(7)
£1,089 pcm
(5)
£1,146 pcm
(6)
£1,499 pcm
(1)
£1,900 pcm
(2)

Fun facts for EX16

Highest value in EX16
Highest value streets Zed-Index
Lower Washfield, Tiverton EX16 £752,316
Turnpike £635,611
Orpington Court £594,503
Mayfair £561,161
Blundells Avenue £559,955
Highest turnover in EX16
Highest turnover streets Turnover
Newton Court 58.3%
Polwhele Road 54.5%
Cromwell Park 50.0%
Drayford Lane 50.0%
The Avenue 47.2%
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For more information about this property, please contact
Welden & Edwards, EX16 on +44 1884 685892 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Welden & Edwards, and do not constitute property particulars. Please contact Welden & Edwards for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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