To Buy £300,000 - Semi-Detached House
***UNIQUE MULTIPLE INVESTMENT OPPORTUNITY WALKING DISTANCE TO WARWICK UNIVERSITY***Extended property*** Two flats, 5-bed student let or family home*** Off road parking, walking distance to supermarkets, easy access to train station & road network.
Foster Lewis and Co are delighted to offer for sale this rare and unique property with huge potential located on the main route to the University of Warwick, offering a multiple option investment property with separated flats or potential to convert to multiple room lets.
The property currently comprises of a porch entrance into brief hallway with separated accommodation having a ground floor bedroom to front aspect, hallway to fitted and extended modern kitchen with skylight, spacious living/dining room, second double bedrooms, shower room. bathroom and ample storage.
To the first floor there is a bathroom/shower room, spacious living room, fitted kitchen, and double bedroom.
This property currently operates as a owner occupier let with tenanted separate accommodation utilising the room rent tax free allowance. This is subject to advise from a tax adviser/HMRC but currently allows for a rentable figure of £7200 per annum.
The second option is to allow the whole of the property to be let as two separate units subject to the relevant planning if required and separation of address, with a rental income of circa £800 per calendar month per top floor, and £1200 per calendar month per ground floor ( £2000 total plus bills).
The third option and most profitable, subject to conversion, is to let the property room by room as circa £500 plus bills meaning a return of £2500 per calendar month)
This property was originally a three bedroom semi detached, and has been extended, converted, and maximises the investment return.
The property resides close to Cannon Park shopping centre, the University and Tile Hill/Canley train stations.
It was rewired and alterations to structure and heating system were carried out in 2010. There are mains wired smoke and fire alarm system. plus emergency lighting installed. There are three external cameras and 4 PIR lights. It also has commercial extractors fitted to both shower units. In addition the loft is boarded with mains power and lighting.
The condition of the property is immaculate, so if a potential buyer was to keep the existing layout, then a re-let would be easily achieved without any investment.
Viewings – only through Foster Lewis and Co head office on 02476 592929
Money laundering Act – intended purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
Council Tax – please refer to www.voa.gov.uk to verify this information.
Tenure – the vendor has confirmed verbally to us that the property is Freehold but you should check this with your legal advisor before exchanging contracts.
Description – measurements are approximate and some may be maximum on irregular walls. Some images may have been taken with a wide angle lens and occasionally a zoom lens. The plan shows the approximate layout of the rooms to show the inter relationship of one room to another.
Consent – we have not had sight of any relevant building regulations, guarantees or planning consents and all relevant documentation pertaining to this property should be checked by your legal advisor before exchanging contracts.
Agents Opinion – these details imply the opinion of the selling agent at the time of these details were prepared and are subjective. It may be that the purchasers opinion may differ.
Every attempt has been made to ensure accuracy, photographs, measurements, floor plans and distances referred to are given as a guide only and should not be relied upon for the purchase of carpets or any other fixtures and fittings, therefore potential buyers are advised to recheck the measurements before committing to any expense. In accordance with the Property Mis descriptions Act (1991) the following particulars have been prepared in good faith and they are not intended to constitute part of an offer or contract. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked and confirmed by your Solicitor prior to exchange of contracts. Foster Lewis and Co has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.
- Extended property with huge potential
- gas central heated & double glazed
- Ideal investment property
- Ideal location for University of Warwick
- Multiple options as two flats or 5 rooms
- Plenty of off road parking
- Split level living/ multiple rooms
- Two bathrooms
- Two kitchens
- Unique variation let/investment property