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10 bedroom block of apartments for sale
Pett Level Road, Winchelsea, TN36
£575,000
Pett Level Road, Winchelsea, TN36
£575,000
Our Summary
- Sold at Auction - via Clive Emson Auctioneers which ends 11th December 2024* Guide price £575,000 +fees White Lodge Court is a freehold block of apartments, which comprises of four 2 bedroom and two 1 bedroom apartments, all of which have their own entrances
- but have the potential to achieve in excess of 7% if the rents were brought in line with current market rates
- All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer
- This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty
Description
White Lodge Court is a freehold block of six apartments, comprising four 2-bedroom and two 1-bedroom units, each with its own entrance. The property is located just 0.4 miles from Winchelsea Beach and Rye Nature Reserve, making it a highly sought-after location for both tourists and locals. The current lets return a gross yield of 5.2% per annum, but there is potential to increase this to over 7% by bringing rents in line with current market rates. The property also has a conservatory area, six car parking spaces, and a gated side access leading to a rear garden. The property is being sold at auction and has the potential to be converted into self-contained holiday lets, subject to obtaining the necessary permissions and adhering to regulations.