An investment opportunity to purchase a property with a predicted gross income of £35,580 a year, yielding 9.78% being let to students, situated close to the town centre.

Description - This is an excellent opportunity to purchase a well-managed investment property that has been continuously rented for 25 years. This is part of a superb property portfolio, that is only selling due to the partners retiring. The current predicted 12 month gross income is approximately £35,700 letting to students, resulting in a potential gross yield of 9.78%.

The property features accommodation spread over three floors: the ground floor includes a hall, sitting room, kitchen, and two study bedrooms, whilst the first floor has three study bedrooms and two shower rooms and the second floor contains one study bedroom. The property backs onto Old Heath Recreational Ground.

Location - The property is conveniently located backing on to the Recreational Ground, as well as near the city centre of Colchester, where you can find a variety of shops, restaurants, and numerous amenities. It is also close to the Town railway station, which provides a fast and frequent service to London, taking approximately 46 minutes. The University is easily accessible via the bus to the University, taking about 15 minutes alternatively the Colchester Institute on Sheepen Road is in easy reach.

Entrance Hall - Stairs to first floor.

Study Bedroom One - 3.73m x 3.48m (12'3 x 11'5) - Window to front.

Study Bedroom Two - 3.58m x 3.02m (11'9 x 9'11) - Window to rear.

Sitting Room - 3.45m x 3.28m (11'4 x 10'9) - Window to side and door to kitchen

Kitchen - 3.28m x 3.07m (10'9 x 10'1) - Window to rear and side, fitted units incorporating sink unit and single drainer, cupboards under, further work tops cupboards and drawers under. Door to rear garden.

Landing -

Study Bedroom Three - 3.45m x 3.40m (11'4 x 11'2) - Window to rear

Study Bedroom Four - 3.58m x 2.13m (11'9 x 7) - Window to rear

Study/Bedroom Five - 3.48m x 2.84m (11'5 x 9'4) - Window to front.

Shower Room - Window to front, shower cubicle, low level wc and wash hand basin.

Shower Room - Shower cubicle, low level wc and wash hand basin.

Landing -

Study Bedroom Six - 4.09m x 1.85m and 4.09m x 1.70m (13'5 x 6'1 and 13 - Two Velux windows to rear.

Outside And Gardens - There is hard standing to the front of the property with a gate giving access to the rear garden again hard standing for easy maintenance, backing onto Old Heath Recreation Ground. There is a boiler house to the rear of the property.

Agents Notes - Services: Mains water, electricity, gas and drainage are connected to the property and gas central heating.
Tenure: Freehold
Local Authority: Colchester City Council
Council Tax: Band C
EPC: Band D

Licenced HMO
Potential to extend.
Available to purchase as a furnished tenanted property.