Auction Property House 

Barmouth

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Features

  • Auction date 22nd & 23rd June
  • Guide price £170,000 +
  • 1x 1 bed GF Flat (£5400 pa)
  • 1x 3 bed duplex upper maisonette
  • Maisonette vacant
  • £8,100 pa for Maisonette (potential)
  • Potential annual income £13,500 pa
  • Potential gross yield approx. 8%
  • Gas Central Heating
  • Freehold

Address

1&2 Marine Cottages BarmouthMerionethshireLL42 1NN
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Property Details

•For Sale by Online Auction – 18th & 19th May 2022
•Two self-contained flats
•1 x 1 bed GF Flat (£5,400 pa)
•1 x 3 bed duplex upper maisonette (vacant)
•Potential annual income £13,500 pa
•Potential gross yield approx. 8%
•Freehold

Two self-contained flats under a single freehold title. Both flats have their own separate entrances and have recently been installed with gas central heating.

Flat 1 comprises of a large sitting room, one good sized bedroom and a shower room which is currently tenanted and achieving £450 pcm. The current market rental value is in the region of £525 pcm.

Flat 2 is a maisonette with accommodation arranged over first and second floors. Within the maisonette is a large sitting room, spacious kitchen, three good sized bedrooms and a shower room. If rented we expect a rent in the region of £675 pcm is achievable.

There is a basement beneath flat 1 which has its own entrance and windows. There is the possibility to incorporate the basement with flat one.

The property is on the Southern side of Marine Road, north of Marine Parade which runs parallel to the beach front. Barmouth town centre is a short walk from the property which provides bars, restaurants, gift shops, and supermarkets; Co Operative, SPAR and Iceland foods.

Accommodation

Flat 1 – Approx. total floor area 44 m2 / 474 ft2 (taken from EPC)
Flat 2 – Approx. total floor area 97 m2 / 1044 ft2 (taken from EPC)

Services

We understand the property to have mains gas, electricity, water and drainage. John Pye Property have not tested any of the services.

Tenure

Freehold

Investment Analysis

Flat 1 is currently tenanted, at £5,400 pa.
Flat 2 is currently vacant, with a potential rent of £675 pcm once let.
The approx. potential yield will be 8% once re-let.

Council Tax

Flat 1 is rated Council Tax Band A. Council Tax Payable (2022/23) is approximately £989.
Flat 2 is rated Council Tax Band C . Council Tax Payable (2022/23) is approximately £1,319.

Guide Price

£170,000+

Buyers Premium

2.5% (min. £4,000) inc. VAT

Floorplans

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