Richmond Avenue, Bognor Regis
OUR COMMENTS: INVESTMENT OPPORTUNITY. This well-kept purpose built first floor apartment is well situated in a quiet residential road, a short distance from Aldwick Road shopping parade and the nearby Seafront Promenade.
The freehold of the block has been bought by the various leaseholders, who now own a share of the freehold. Consequentially, the property comes with the remainder of a 999 year lease, has no ground rent to pay and there is a modest maintenance change for the block of £650 PA.
We understand the term of the AST has ended and the sitting tenant is currently on a periodic month-by-month contract and wishes to stay in the property, she is currently paying £660 PCM providing a healthy yield of 5.66% at the asking price.
The property is well screened from the front with mature trees and is located down a private gravel driveway, which leads to a parking area at the rear of the property. This apartment has a parking space and there is further parking available in Richmond Avenue.
The accommodation comprises an entrance hall, large sitting and dining room, a separate kitchen, bathroom and bedroom. The property has been kept in good decorative order.
In our opinion, this would make a fantastic addition to a letting portfolio and viewings are highly recommended.
Living Room: 17' 10" x 9' 8" (5.46m x 2.97m)
Kitchen: 9' 6" x 7' 0" (2.92m x 2.15m)
Bedroom: 11' 1" x 9' 3" (3.39m x 2.82m)
Bathroom: 6' 9" x 5' 6" (2.07m x 1.68m)
Lease Information: The vendor informs us that there is a 1/6th share of the freehold between the other flats, the remainder of a 999 year lease, there is no ground rent and the current maintenance charge is £650 pa. We have not sighted documents to evidence this and advise that should you proceed to purchase this property this should be checked by your conveyancer.
- Purpose Built First Floor Apartment
- Share of Freehold
- Large Sitting / Dining Room
- Fitted Kitchen
- Off Road Parking
- Close to Shops & Seafront
- Investment Opportunity