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2 bed flat for sale

£142,500 Offers in region of

Corve Street, Ludlow SY8

2 bed flat for sale 2 1 1
Interested in this property? Call +44 1584 539015 * or Request Details

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Property features

  • 2 Double Bedroom Apartment
  • Buy-to-Let Opportunity
  • Holiday Let Allowed
  • No Service Charges
  • One of Two Available
  • Central Ludlow Location
  • Open-Plan Living Space
  • Bath and Shower
  • Gas Central Heating
  • No Onward Chain

Property description

Spacious, character, Grade ll Listed, two double bedroom, period conversion in the centre of the bustling historic market town of Ludlow. Ideal for first time buyers or for investors as a holiday let.

The wide and gently sloping Corve Street is lined with Georgian period facades which step up the hill from the River Teme towards the historic town centre, many of the facades conceal much earlier period origins, some of which are Tudor or earlier. The highly photogenic Feathers Hotel towards the town centre has a heavily beamed exterior. Much of the period nature of the street is encapsulated in this character two bedroomed apartment, to the front of the property are Georgian sash windows with narrow glazing bars, the period features are complimented by a fitted kitchen fitted with new appliances and recent redecoration throughout. It is the very period character of the property that we believe holidaying visitors to the town are seeking and that this would make an excellent holiday let.

The thriving Medieval market town has, at its centre, a castle which dates from the 11th Century and together with the nearby Assembly Rooms form the venues for many of the town’s festivities and theatrical productions, some of which are supported by celebrities that have made Ludlow their home. The annual Food Festival is a big draw to the town and is a demonstration of the quality food produce of the area, much of which regularly features in the markets held in the Castle Square, it is no surprise that the town at one time had the distinction of the most Michelin Stars of any town outside of London with chefs such as Shaun Hill, Will Holland and brothers Cedric Bosi of The Charlton Arms and Claude Bosi, now of Bibendum in The Royal Borough of Kensington. The Shropshire Star newspaper recently recognised Mortimers Restaurant, opposite, as one of the best in the town.

Hallway (4.64m x 1.97m (15'2" x 6'5"))

The entrance hall way leads from the communal stairs and landing. A generously proportioned entrance hallway that could easily accommodate an office work space or bicycle storage. This space is laid with carpet, is lit with spotlights and leads up 3 steps to the lounge-kitchen-diner and down one step to the rest of the flat. Electrical power sockets.

Kitchen/Dining/Living Room (4.6m x 4.74m (15'1" x 15'6"))

A bright and spacious room with georgian pane sash window to front and fitted with an attractive range of light wood effect floor and wall mounted cabinetry with built under electric oven, four ring electric hob with extractor canopy hood over, the breakfast bar has an inset stainless steel sink and mixer tap, plumbing for automatic washing machine, power points.

Bedroom 1 (3.39m x 3.14 (11'1" x 10'3"))

Located at the front of the property on the right, the master bedroom is a good-sized double with space for free-standing furniture. The room is bright, having a large secondary-glazed window overlooking the road at the front. There is a radiator, drop ceiling light and electrical power sockets.

Bedroom 2 (2.93m x 2.72m (9'7" x 8'11"))

A second room which would comfortably accommodate a double bed, this room makes the property an ideal let for two sharing professionals, as-well as a family or couple. The space has a drop ceiling light, radiator, secondary glazed window and electrical sockets. The accommodation could sleep four adults or a family with children for the purposes of either rental or holiday letting

Bathroom

The bathroom features a white suite with a mains mixer shower over the bath, pedestal sink with taps, w.c. With macerator, and extractor fan. The coordinated tiles are white and the floor is laid to vinyl, central heating radiator.

Ebor Mews

The property is accessed via Ebor Mews, a private and pretty alley which runs from the gated access beside Ludlow Ink and runs parallel to Streatley Mews.

Tenure

The Property is Leasehold with a 99 year lease granted 1st January 2012. The lease provides for the possibility of both residential letting and holiday lets

Service Charge

Equivalent to 15% of costs

Ground Rent

The initial Rent of £75 per annum for first 25 years, £150 per annum for the next 25 years, £225 per annum for the next 25 years and £300 per annum for the remaining period.

Local Authority

Shropshire. The property is in Council Tax Band A which during Council Tax charge year 2023/2024 equates to £1,489.07 payable.

Letting

The current owners have previously successfully let both this apartment and 1b next door, both of which are now available with vacant possession. This flat and it's neighbour would make a great buy-to-let rental, or fabulous holiday let option. The 2 units are currently independent of each other, but subject to permission, could be joined with a Jack-and Jill door, allowing for greater flexibility and wider marketing appeal.
The lease has provision for holiday letting, and enquiries with Sykes indicate a gross return of £18,000 or more per unit. We would market this flat for rental at £700 pcm.

Property info

Floorplan(s): Floor Plan 1A (002).Png

Floor Plan 1A (002).Png View original

Property value data/graphs for SY8

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £469,207 £225 3.6 £463,036
Semi-detached £269,268 £211 3.0 £219,680
Terraced £368,346 £213 2.8 £277,520
Flats £237,458 £284 2.3 £167,264

Current asking prices in SY8

Average: £370,749
Avg. current asking prices in SY8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £130,000
(1)
£219,120
(10)
£258,675
(19)
£767,857
(7)
£660,000
(2)
Flats £106,650
(3)
£107,875
(4)
- - -
All £112,488
(4)
£187,336
(14)
£258,675
(19)
£767,857
(7)
£660,000
(2)

Current asking rents in SY8

Average: £981 pcm
Avg. current asking prices in SY8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses - - £1,075 pcm
(2)
- -
Flats - £793 pcm
(1)
- - -
All - £793 pcm
(1)
£1,074 pcm
(2)
- -

Fun facts for SY8

Highest value in SY8
Highest value streets Zed-Index
Ludford £779,837
Steventon £740,817
Burway Lane £725,314
Lower Barns Road £623,435
Orleton Common £596,078
Highest turnover in SY8
Highest turnover streets Turnover
Warrington Gardens 50.0%
Felton Close 47.4%
Clee View Close 45.5%
Bringewood Close 45.5%
Scotts Lane 41.7%
Arrange Viewing

For more information about this property, please contact
Blocsphere Property Management, SY8 on +44 1584 539015 * (local rate)

Monthly running costs Beta

£750 Monthly total

Mortgage

Purchase price
Deposit (10%) 14,250
Repayment term 25
Interest rate 2.0
Your payment £543 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Rebuild value up to £750,000 Contents value up to £75,000 Average insurance cost £12/mo (£150/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £21 Electricity £38 Estimated energy cost £59/mo How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 7900 kWh/year
Electricity: 2600 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Shropshire

Estimated tax band A Council tax cost £107 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.

Water

Supply £16 Sewerage £13 Estimated water cost £29 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

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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 Blocsphere Property Management, and do not constitute property particulars. Please contact Blocsphere Property Management 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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