INVESTOR OPPORTUNITY - TENANT IN SITU producing £620 PCM and an approximate 7.4% gross yield. Long 997-year lease with share of freehold and Right to Manage membership. EPC rating C, compliant with proposed future energy standards. Service charge £75 PCM. Fully compliant tenancy with all certification in date. Prime Ross-on-Wye town centre location with consistently strong rental demand.
INVESTMENT OPPORTUNITY – TENANT IN SITU – APPROXIMATE 7.4% GROSS YIELD – SHARE OF FREEHOLD
An excellent opportunity to acquire a well-presented one-bedroom ground floor apartment with tenant in situ, situated within the highly regarded Serendipity House, a character conversion located in the heart of Ross-on-Wye town centre.
The property will be sold with a rent of £620 per calendar month, producing an attractive gross yield of approximately 7.4%, making it an ideal acquisition for both experienced landlords and those seeking to add a low-maintenance investment to their portfolio.
Serendipity House forms part of an attractive period building which has benefitted from extensive external refurbishment within the last two years. The apartment itself is particularly well maintained and offers a spacious double bedroom with traditional sash windows, a modern fitted kitchen opening into the sitting room, a contemporary shower room, together with separate WC facilities accessed from the entrance hall.
The property enjoys a remarkable lease term of approximately 997 years remaining and is sold with a share of freehold, with the purchaser becoming a member of the Right to Manage Company and therefore having direct involvement in decisions relating to the management and future maintenance of the building.
The development comprises a small collection of just four apartments within Serendipity House and a further eight apartments in the adjoining Serendipity Freeholder building, occupied by a mixture of landlords and owner occupiers. The secure communal entrance creates an impressive first impression and contributes to the building’s popularity with both younger and more mature tenants.
Located in the centre of Ross-on-Wye, the property is within easy walking distance of shops, supermarkets, cafés, bars and restaurants. Apartments within this development are consistently in demand and have historically proved easy to let.
The current tenancy administration and compliance documentation are fully up to date, providing purchasers with immediate income from completion.
Accommodation
? Ground floor apartment
? One double bedroom
? Open-plan living room and fitted kitchen
? Modern shower room
? Separate WC
? Character sash windows
? Secure entry system
Investment Highlights
? Tenant in situ
? Rent to be £620 PCM
? Approximate 7.4% gross yield
? 997-year lease
? Share of freehold
? Right to Manage Company membership
? Service charge approximately £75 per month
? Exterior fully refurbished within the last two years
? Strong rental demand
? Prime Ross-on-Wye town centre location
Viewing is highly recommended to appreciate the quality of the accommodation and the strength of the investment opportunity on offer.
SELLING? WE OFFER FREE MARKET APPRAISALS OR SALES ADVICE MEETINGS WITHOUT OBLIGATION. CONTACT NORTHWOOD ON 01989 764050 TO FIND OUT HOW OUR AWARD-WINNING SERVICE CAN GUIDE YOU ON THE BEST WAY TO SELL YOUR PROPERTY.
Stamp Duty: Ensure you understand your Stamp Duty and Land Tax (SDLT) obligations before making an offer.
Residential Properties: Stamp Duty applies to purchases over £125,000 (standard threshold). First-time buyers benefit from an increased threshold of £300,000, provided the property costs £500,000 or less.
Additional Properties: If you’re purchasing a second home or buy-to-let property, a 5% surcharge applies on top of standard rates.
We give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order or fit for their purpose, neither has the agent checked the legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.
AML REGULATIONS Agent's Note - In accordance with The Money Laundering Regulations 2007, Northwood (Hereford) Ltd are required to carry out customer due diligence checks by identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source. At the point of your offer being verbally accepted, you agree to paying a non-refundable fee of £40 inclusive per purchaser in order for us to carry out our due diligence. EPC rating: C. Council tax band: A, Domestic rates: £1761.59, Tenure: Leasehold,
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