The Balconies , 501 Newark Road, Lincoln, LN6 8RT

Description

GENERAL INFORMATION The Balconies.

A purpose built, modern, three storey building with five separate, tenanted flats.

The Balconies comprises of two, one bedroom ground floor apartments with gardens;

Two, first floor, one bedroom apartments with balconies

One, second floor, two double bedroom apartment with balcony.

Each apartment comes with its own reserved parking space.




THE APARTMENTS Ground Floor

Apartment 1 - Entrance Hall, Living Kitchen, Bathroom, Double Bedroom and rear garden. The apartment spans approximately 42sqm

Apartment 2 - Entrance Hall, Living Kitchen, Bathroom, Double Bedroom and rear garden. The apartment spans approximately 42sqm

First Floor

Apartment 3 - Entrance Hall, Living Kitchen with Balcony, Bathroom and double Bedroom. The apartment spans approximately 45sqm

Apartment 4 - Entrance Hall, Living Kitchen with Balcony, Bathroom and double Bedroom. The apartment spans approximately 45sqm

Second Floor

Apartment 5 - Entrance Hall, Living Kitchen with Balcony, Bathroom, two Double Bedrooms and En Suite Shower Room. The apartment spans approximately 69sqm


CURRENT RENTS The below information has been supplied to us by a third party. Interested parties are advised to have the following information checked and verified via their legal representatives. The figures stated indicate pcm and in GBP.

Apartment 1 - £675.00
Apartment 2 - £675.00
Apartment 3 - £585.00
Apartment 4 - £560.00
Apartment 5- £845.00

Total - £3,340.00pcm giving a gross annual total of £40,080 or 6.7% yield bases on asking price.

LEGAL CERTIFICATES We have been provided the relevant safety certificates for the five apartments by the Managing Agent which include:

Energy Performance Certificates - all five apartments have up to date EPCs each with a "C" rating.

EICR - Each apartment has a valid EICR in place

Gas Safety Certificate - Each apartment has a valid gas safety certificate

We have been informed that the building offers an integrated fire alarm system.

APARTMENT 1 Entrance Hall
Lounge - 4.99m x 3.82m
Bedroom - 4.12m x 3.06m max
Bathroom - 1.94m x 1.85m

Enclosed rear garden and parking space

APARTMENT 2 Entrance Hall
Living Kitchen - 5.01m x 3.51m
Bedroom - 4.13m x 3.03m max
Bathroom - 1.94m x 1.85m

Enclosed rear garden and parking space



APARTMENT 3 Entrance Hall
Living Kitchen - 6.08m x 3.15m narrowing to 3.05m
Bedroom - 3.14m x 3.76m
Bathroom - 1.75m x 2.36m

Parking space and first floor balcony

APARTMENT 4 Entrance Hall
Living Kitchen - 6.11m x 3.15m overall
Bedroom - 3.14m x 3.78m
Bathroom - 1.75m x 2.37m

Parking space and balcony

APARTMENT 5 Entrance Hall
Living Kitchen - 6.71m x 4.95m narrowing to 3.01m
Bedroom 1 - 4.22m x 3.13m overall
En Suite Shower Room
Bedroom 2 - 3.11m x 2.82m overall
Bathroom - 1.76m x 1.76m

Parking space and balcony

ANTI MONEY LAUNDERING King & Co are required to formally identify all parties to a transaction and will therefore, when negotiating a Sale, require to see proof of identification, e.g. Passport or Driving License / Utilities Bill, to conform with the Money Laundering Regulations 2003 and the Proceeds of Crime Act 2002.

VIEWINGS Strictly by prior appointment through the Agents office on 01522 525255

SERVICES Mains electricity, water, drainage and gas are connected to the building. Central heating is provided to a radiator system from a gas fired boiler to each apartment. All apartments are double glazed throughout. None of the service installations within the property have been tested.

TENURE The property is being purchased as on going concern with tenants in situ. The purchase is for the apartment block and freehold interest.