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1 bed Commercial Property

£950,000

Ethelbert Terrace, Cliftonville, Margate, Kent

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Property DESCRIPTION

SEA FRONT INVESTMENT PROPERTY PRODCUCING CIRCA £42,300 P.A.
This sea facing investment property is comprised of ten one bedroom flats, all of which are currently let on assured shorthold tenancies. Overlooking the Lido at Cliftonville, with far reaching sea views from many of the flats, the property is within a few hundred metres of the shops and amenities of Northdown Road and within half a mile of Margate's Main Sands and the Turner Contemporary. The property currently produces in the region of £42,300 gross rental income per annum.

The Property
Accommodation
The property comprises two adjoining five storey buildings, each arranged with one, one bedroom flat per floor. The properties benefit from a shared garden to the rear accessed via the communal areas of both properties. The two lower ground floor flats have private entrances at the front and small courtyard areas to the rear.

Flat No. 5
Sample Flat Accommodation

Hallway
With coved ceiling and radiator.

Kitchen
3.16m x 1.91m (10' 4" x 6' 3") With double glazed window to the front with sea views. Fitted with a range of base and wall units. Single drainer stainless steel sink unit inset to work surface area. Integrated electric oven with gas hob over and extractor above. Coved ceiling, radiator.

Lounge
4.10m narrowing to 3.14m x 3.44m (13' 5" narrowing to 10' 3'' x 11' 3") With double glazed window to the rear. Coved ceiling, radiator and television point.

Bedroom
3.30m x 3.18m (10' 10" x 10' 5") With double glazed window to the front with sea views. Double radiator, coved ceiling.

Bathroom
Fitted with panelled bath, pedestal wash hand basin and low level W.C. Half tiled to walls, extractor, radiator, coved ceiling.

Agents Note:
The property falls within the local Selective Licencing area for private Landlords and we are advised that the property currently complies.

EPC, Floor Plans & photos
A sample EPC and floor plans are attached. Internal photos shown are of flats 5 & 10.

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