Project Description

Location
The subject property is located on Samuel Street and is surrounded by flats and houses of a similar construction. It lies 1.5 miles east of the centre of Preston, Lancashire.

Preston has a good selection of local, national and international retailers along with a wide range of leisure facilities and a very popular university.

Preston hosts a mainline railway station and provides access to the rest of the UK.

The M6 Motorway is located 2 miles east of the property and provides excellent access to the major cities of Liverpool and Manchester.

Description
This flat is located on the fourth floor and is accessed via a communal hallway shared with other residents of the block.

Door provides access to the entrance hallway, which in turn provides access to the large lounge with ample storage and double glazed window.

Also accessed from the hallway is a good sized double bedroom with double glazed window, a three piece bathroom suite and good sized kitchen with a range of base and eye level units, oven, stainless steel sink with drainer and also useful cupboard storage space.

Accommodation
Total    46m2    496ft2
Approx. gross internal floor area.

Services
We understand the property has connections to mains electric, water and drainage.

Tenure
Leasehold – A 125 year lease came into effect in July 1986 when the property was first built, there is 95 years remaining.

Investment Analysis
The property has the potential to be let on an AST basis at £4652 pa, this represents a gross yield of 18.61%, taking into account the service charge and ground rent the net yield is 14.5%.

Service Charge and Ground Rent
The current service charge payable is
£1017 pa and the ground rent payable is £10 per year.

Council Tax
The property is rated in Council Tax Band A. Council Tax payable (2016/2017) is £1128.88

*Guide Price
£25,000

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

18 Derwent House
Samuel Street,
Off Newhall Lane
Preston
PR1 4YL

Features

✓ One Bedroom 4th Floor Apartment
✓ Ideally Located
✓ Good Investment Opportunity
✓ Tenant in Situ currently paying  £4652 pa representing a gross yield of 18.61%
✓ Recently double glazed
✓ Recent Biofuel Central Heating Fitted
✓ External curtain wall insulation fitted in 2012

Contact

Matt Kirk
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR231

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