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Offers in Excess of £400,000

Flat 1-8, The Cross, Aspen Court, Oswestry, Shropshire SY11 2PZ

  • The property provides 8 one bedroomed flats.
  • The property provides the opportunity of an Estimated Gross Rental Income of £36,420 per annum.
  • The property offers further asset management potential and offers an attractive town centre residential investment opportunity in the town centre of Oswestry.

INVESTMENT SUMMARY

1. The property provides 8 one bedroomed flats.

2. The property provides the opportunity of an Estimated Gross Rental Income of £36,420 per annum.

3. The property offers further asset management potential and offers an attractive town centre residential investment opportunity in the town centre of Oswestry.

PROPOSAL

We are instructed to seek proposals for our client's freehold interest, subject to the existing occupational leases, of offers in excess of £400,000 (four hundred thousand pounds) (exclusive), which shows a net initial yield of circa 8.8 % based upon an Estimated Gross Rental Value of £36,420 per annum (after allowing for purchasers costs of stamp duty and acquisition costs of 1.5%).

SITUATION/LOCATION

The property is situated in the town centre of Oswestry and is accessed from The Cross. The access to the property is via a pedestrian access adjacent to M & Co and Costa Coffee in Oswestry town centre.

Oswestry is the third largest town in the county of Shropshire with a borough population of approximately 33,000 people. Oswestry is situated adjacent to the A5 Trunk Road and is an established administrative centre serving the north-east of Shropshire.

Oswestry is located approximately 17 miles north of the county town of Shrewsbury and approximately 26 miles south of the city of Chester.

DESCRIPTION

The property comprises a three storey property, which is arranged to provide a

ground floor entrance lobby with 8 one bedroomed residential apartments. The

flats are accessed via a common stairwell and then provides 4 flats on the first floor and 4 flats on the second floor.

The property provides the following accommodation:

Ground Floor

Communal Hallway

Second Floor

First Floor Communal Hallway

Communal Hallway Flat 5

Flat 1 Reception Hallway

Reception Hallway Living Room

Living Room Bedroom

Bedroom Kitchen

Kitchen Bathroom

Bathroom Flat 6

Flat 2 Reception Hallway

Reception Hallway Living Room

Living Room Bedroom

Bedroom Kitchen

Kitchen Bathroom

Bathroom Flat 7

Flat 3 Reception Hallway

Reception Hallway Living Room

Living Room Bedroom

Bedroom Kitchen

Kitchen Bathroom

Bathroom Flat 8

Flat 4 Reception Hallway

Reception Hallway Living Room

Living Room Bedroom

Bedroom Kitchen

Kitchen Bathroom

BathroomThe long leasehold interest is offered for sale, subject to the existing Assured Shorthold Tenancies.

The property is owned on a long leasehold of a lease expiring on 24th of December 3006 under Title Number SL192614 .

The tenancy schedule is detailed on the following page.

All the tenancies are on Assured Shorthold Tenancies.

Further details are available upon request from the selling agents.We have made internet enquires and and we have been advised as follows:

Flat 1 Band A

Flat 2 Band A

Flat 3 Band A

Flat 4 Band A

Flat 5 Band A

Flat 6 Band A

Flat 7 Band A

Flat 8 Band A

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