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6 bedroom town house for sale
Waverley Terrace, Ramsey, Isle Of Man
£325,000
Waverley Terrace, Ramsey, Isle Of Man
£325,000
Our Summary
- An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone £50k investment of structural improvements including replacement steel beams, lintels, windows, guttering and roof tiles, treatment of dry rot and repairs to the chimney stack
- Internally the building is ready to be modernised, and there is an opportunity, subject to obtaining the relevant planning consent to split one apartment into two to create a fifth unitThree of the four flats are fully let to long term tenants, ensuring that any internal improvement works can be carried out in phases, starting with the vacant flat
- Summary - An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone £50k investment of significant structural improvements including replacement steel beams, lintels, windows, guttering and roof tiles, treatment of dry rot and repairs to the chimney stack
- Additional Information - - Recent Substantial Structural Improvements Undertaken, both internally and externally- Details of works carried out available for inspection- Flat 1 - a vacant and spacious 2 Bed Duplex flat requires improvement works
- Potential to convert to two flats,- Flat 2 - 1 bed let at £600pcm- Flat 3 - 1 bed let at £425pcm- Flat 4 - 1 bed let at £500pcmDirections - From Parliament Square, travelling in the direction of the Mountain Road, take a left turning onto the A2 prior to Ramsey bus station
- Excellent Investment Opportunity
- Option to Create a Fifth Unit STPP
- Property Would Benefit from Internal Modernisation
Description
This is an excellent investment opportunity to acquire the freehold of a converted Victorian property, comprising four flats that have recently undergone significant structural improvements totaling £50,000. The property is ready to be modernized, and there is potential to split one apartment into two, subject to obtaining the necessary planning consent. Three of the four flats are currently let to long-term tenants, allowing for phased internal improvement works to be carried out. The vendor is open to selling each unit on a leasehold basis, offering a proportionate share of the freehold through a management company. The property has a vacant flat that requires improvement works, which could be converted into two separate units. The property is located on Waverley Terrace, with easy access to the A2 and Ramsey bus station.