Unbroken Residential Investment Close To Farnham Station & Town Centre

Key Points

• Comprising 6 one-bedroom apartments together with 8 parking spaces
• In close proximity to Farnham mainline station along with town centre
• Producing gross income of £69,720 per annum together with £1,200 pa for 1 parking space
• Strong underlying residential VP values in Farnham
• Converted in 2015
• Freehold

Description

The property consists of 6 one-bedroom apartments converted in 2015, set out over ground and two upper floors. There are also 8 parking spaces to the rear. The apartments are let on individual AST’s producing an income of £69,720 per annum. Furthermore, one of the parking spaces to the rear is let on a licence agreement to a neighbouring business, at a rent of £1,200 per annum. Therefore the total income is £70,920 per annum.

Available area

The accommodation comprises the following areas:

Location

Farnham benefits from excellent road communications via the Blackwater Valley Relief Road (A331) which links with Junction 4 of the M3 motorway, approximately 8 miles to the north, Junction 12 of the M25 (London orbital) is within easy reach via the A31 linking with the A3, approximately 20 miles to the north east. Rail links are also excellent with regular direct train services from Farnham station to London Waterloo (approximate journey time 56 minutes). Farnham mainline railway station also provides regular direct services to Woking, Guildford and Clapham Junction with an approximate journey time of 23,23 and 51 minutes respectively.

Firlex House is located on Firgrove Hill, which provides access directly into Farnham Town Centre (0.3 miles) with a range of amenities available here. The property is also located close to Farnham station (0.3 miles).

Proposal

Offers are invited in excess of £1,050,000 (One Million Fifty Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive reversionary yield of 7.30% and a low capital value of £396 per sq ft, after purchaser’s costs of 5.76%.

Anti Money Laundering

To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.