Residential Investment Opportunity

Melksham - Bank Street

Price: £180,000

Size: 1028 sq ft

New Instruction

LOCATION
Melksham is a busy growing market town in West Wiltshire with a population including surrounding villages of circa. 28,000 (2011 census) and offers a wide range of shops and amenities. It is well located for the nearby towns of Trowbridge (6 miles), Chippenham (7 miles) and the Georgian city of Bath (12 miles).

The property is located on the eastern side of Bank Street which forms part of the main thoroughfare through the town. The immediate properties are residential, however, it is in very close proximity to the Littlebrook Shopping Centre with a Waitrose supermarket, and to the south of Bank Street where occupiers include Peacocks and Specsavers.

DESCRIPTION
The property provides accommodation on three levels. It is elevated from the main road with steps up to the ground floor entrance door. The ground floor has planning permission to be used as a one bed flat. Plans are available upon request. It consists of 2 rooms to the front of the property with kitchen and wc facilities to the rear. There is a door opening on to the rear garden area where there is an access which leads out on to Union Street. The adjoining property has a pedestrian right of way over that access route. There is an external staircase entrance which gives independent access to the upper floors with a one bedroom flat on each of the first and second floors occupied under assured shorthold tenancies. Planning permission has been granted for an external staircase and reconfiguration of the upper floor flats. Details of which can be provided.

ACCOMMODATION
Ground floor
Room 1 137 sq ft 12.76 sq m
Room 2 100 sq ft 9.29 sq m
Room 3 89 sq ft 8.27 sq m
Lobby 63 sq ft 5.93 sq m
Kitchen 71 sq ft 6.61 sq m

First floor
Kitchen / Reception 130 sq ft 12.09 sq m
Bedroom 110 sq ft 10.18 sq m
Shower room 26 sq ft 2.40 sq m

Second floor
Kitchen / Reception 144 sq ft 13.38 sq m
Bedroom 129 sq ft 12.01 sq m
Shower room 29 sq ft 2.70 sq m

SERVICES
We are advised that the property is connected to mains water, drainage, gas and electricity. There is a gas fired boiler which provides heating and hot water to the ground floor and hot water to the two upper floors. We have not verified the existence or tested any of the service installations and advise that interested parties make their own investigations as to their state and condition.

TERMS
The first floor flat is held under an assured shorthold tenancy for a term of 6 months from September 2018 at a rental of £350 per calendar month.

The second floor flat is held under an assured shorthold tenancy from August 2018 at a rental of £300 per calendar month. We believe there is a potential combined income of £1,225 per calendar month equating to £14,700 per annum.

The ground floor is currently vacant.

OUTGOINGS
OUTGOING
The local taxation is to be re-assessed.

PRICE
The property is available for £180,000.

VAT
VAT is not applicable to the price.

LEGAL COSTS
Each party to be responsible for their own legal costs.

PLANNING
Planning permission has been granted for an external staircase and reconfiguration of the upper floor flats. Details of which can be provided.

OTHER
EPC RATING (This is how energy efficient the property is)
An EPC has been commissioned and is awaited.

MONEY LAUNDERING REGULATIONS
Purchasers will be required to provide identity information so Anti Money Laundering checks can be undertaken before an offer can be accepted on any property we are marketing.

VIEWING
Strictly by appointment with the agent - Kavanaghs.

View on Google maps