Sold
Newent, Gloucestershire – A freehold gated retirement development
1-40 Stokes Mews, Newent, Gloucestershire, GL18 1EU
Offers in excess of £2,100,000
- Property Type:
- Residential
- Tenure:
- Freehold
Description
- An extremely well maintained Freehold gated development located in the centre of Newent completed in 2008
- Comprising 37 retirement flats and 2 houses
- 10 units sold on long leases (2 x three bed houses, 5 x two bed flats, 3 x one bed flats)
- 29 unsold flats (19 x one bed, 10 x two bed)
- 26 properties let subject to AST’s and three flats currently vacant
- Total Current Gross Rent Reserved: £144,536 per annum
- AST Income: £141,036
- Ground Rent Income: £3,500
- Estimated Gross Rental Value (fully let): £161,000 per annum
- Fully managed by retirement living specialist First Port
- Service Charge covering insurance, management and maintenance
- £52,730 Sinking Fund in place for redecorations and contingency costs (year end accounts dated 30 September 2017)
- 17 parking spaces
- Within easy walking distance of local shops and amenities
Subject to contract