1 George Street, Huntingdon
Cambridgeshire, PE29 3AD
A unique opportunity to acquire a freehold block of eight apartments, under one title, sited in a village location with open countryside surrounding.
A unique opportunity to acquire a freehold block of eight apartments, under one title, sited in a village location with open countryside surrounding.
Although a peaceful setting, the A1 is just a short 5 minute drive away providing access North or South with Huntingdon and Peterborough both a 15 to 20 minute drive away. The local village of Sawtry or Hampton provides closer amenities, schools and shops.
Sited on a plot approaching 0.6 acres, there is potential for further development or improvement of the existing building, subject to consent.
A turnkey investment for serious investors, this opportunity provides an instant yield in excess of 6% (One flat is currently vacant - quoted rent inc projected income) and is offered with no onward chain.
The Gross Internal Floor Area for the building is approximately 6085 sq.ft / 565 sq.metres (Inclusive of the basement, communal areas and laundry)
The site area is approximately 0.6 acres or thereabouts. The site is subject to an overage clause for a 30 year period should any additional residential development be gained.
Six of the flats are currently tenanted under Assured ShorthandTenancy, one is rented under a Protected Shorthand Tenancy and one flat is vacant, due to be advertised on the rental market shortly, achieving a combined rental income of £47,772 per annum. (Inc projected rent for the vacant property.
The rents are inclusive of water rates however each flat has their own electricity meter.
The electricity for the communal areas is included on Flat 5's meter, estimated at approximately £100 pcm.
A two bedroom ground floor flat of 74 sq.metres / 796 sq.ft.
EPC: E.
A first floor two bedroom flat of 53 sq.metres / 570 sq.metres.
EPC: E.
A two bedroom, duplex, flat of 85 sq.metres / 914 sq.metres.
EPC: D.
A ground floor studio apartment of 32 sq.metres / 344 sq.metres.
EPC: E.
A one bedroom ground floor apartment of 38 sq.metres / 409 sq.metres.
EPC: E.
A ground floor apartment of 81 sq.metres / 871 sq.metres.
EPC: D.
A first floor two bedroom apartment of 59 sq.metres / 635 sq.ft.
EPC: D.
A one bedroom first floor apartment of 60 sq.metres / 645 sq.ft.
EPC: E.
A basement of 551 sq.ft / 51 sq.metres.
Sited on a plot of 0.6 acres or thereabouts the building is approached via a large driveway to the front providing parking for numerous vehicles.
There are gardens primarily to the side with a courtyard to the rear and side. Some trees on site have a preservation order on.
Although each flat has a separate postal address they are all registered under one Freehold title as sold as such.
The flats are heated via individual electric heaters and served via mains drainage, water and electricity.
The vendor intends to sell the site subject to an overage agreement. The proposed overage agreement will entitle the vendor to 30% of any uplift in value for a period of 30 years from any further residential development of the land.
The Property is not listed and not sited in a conservation area. There are trees on the site that have a preservation order on.
Conington is a small picturesque Village located close to Sawtry which benefits from many amenities including Junior and Secondary Schools, a Leisure Centre and a variety of shops in addition to a Co-op supermarket. Hampton and Yaxley are a short drive away with further amenities, schooling and shops.
It lies between Huntingdon and Peterborough where fast railway travel links to London and the north, and easy access is available to the A1/A14 road network.
These particulars whilst believed to be correct at time of publishing should be used as a guide only. The measurements taken are approximate and supplied as a general guidance to the dimensions, exact measurements should be taken before any furniture or fixtures are purchased. Please note that Oliver James Property Sales and Lettings has not tested the services or any of the appliances at the property and as such we recommend that any interested parties arrange their own survey prior to completing a purchase.
In order to progress a sale, Oliver James will require proof of identity, address and finance. This can be provided by means of passport or photo driving licence along with a current utility bill or Inland Revenue correspondence. This is necessary for each party in joint purchases and is required by Oliver James to satisfy laws on Money Laundering.