House for sale

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House for sale

Atlantic House, Jengers Mead, Billingshurst, RH14 9PB
£700,000

Our Summary

  • It is considered there is potential to build 3 more flats at roof level, subject to receipt of the necessary consents

Description

The property is a modern development in Billingshurst, comprising four 2-bedroom flats that have been renovated to a high standard. The flats are available for sale on a long-leasehold interest with 997 years remaining, and are currently producing a combined gross income of £59,160 per annum. The flats are tenanted and subject to existing ASTs, and after deducting for this year's service charge, the net income is £44,197.80. The property has potential for further development, with the possibility of building three more flats at roof level, subject to obtaining the necessary consents. The location is convenient, with a range of amenities nearby, including shops, restaurants, and supermarkets. The investment is available by way of a sale of the long leasehold interest, with each party responsible for their own legal costs.