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.
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.
Total 46m2 496ft2
Approx. gross internal floor area.
We understand the property has connections to mains electric, water and drainage.
Leasehold – A 125 year lease came into effect in July 1986 when the property was first built, there is 95 years remaining.
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.
The property is rated in Council Tax Band A. Council Tax payable (2016/2017) is £1128.88
To view this property, please contact John Pye Property – firstname.lastname@example.org – 0115 970 6060
18 Derwent House
Off Newhall Lane
✓ 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
Phone: 0115 970 6060
Our Ref: PR231