Residential and Commercial Property Auction

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Tuesday 20th Nov 2007

Property Auction- Commencing 2.00pm at the New Continental Hotel, Millbay Road, Plymouth.

Lot 14 : 10 LIPSON ROAD
Lipson, Plymouth, Devon

Guide Price Circa £250,000

Freehold Residential Investment property of considerable character.
A substantial property arranged as 3 self contained apartments together with a single garage
Currently fully let and producing a gross rental income of £1,475 per calendar month (equating to approximately £17,700 per annum) with potential to let garage to generate further income.
Well situated in a favoured residential area within easy reach of Plymouth City Centre and the main campus of the University
A superior investment proposition enjoying the benefit of gas fired central heating and an external rear fire escape

Vendors Solicitors

Gill Akaster 25 Lockyer Street Plymouth, PL1 2QW

Telephone: 01752 203500
Fax: 01752 203503

DX: 8284 Plymouth 2
Reference: Tracey Flack

Sole Agents

Shobrook & Co Ltd

All plans and maps are for location identification purposes only and they do not form part of any contract. They do not necessarily indicate the precise boundaries of each site.

Location

This property is situated on the southern side of Lipson Road at its City Centre end and close to its junction with Greenbank Road and Tothill Avenue and within walking distance of the City Centre.

Description

A substantial bay fronted property of considerable character located in a favoured and well established central residential district and enjoying the benefit of south facing views over the City from the rear upper floors. This property is arranged as a 2 bedroomed ground floor flat, a 2 bedroomed first floor flat and a 3/4 bedroomed maisonette on the upper two floors. All three apartments are currently let on the basis of Assured Shorthold Tenancies, at current rents as follows:

Ground floor flat: £400 per calendar month.
First floor flat: £500 per calendar month.
Second and third floor maisonette: £575 per calendar month.

The garage is offered with vacant possession on completion and could be let to generate further income.

Tenure

Freehold subject to existing tenancies on completion.

Accommodation

Ground Floor

Communal Entrance Hall. A self contained Ground Floor Flat comprising: Entrance Lobby/Entrance Hall, Lounge, Kitchen, No. 1 Bedroom (double), No. 2 Bedroom (double) and Bathroom with bath, wash hand basin and W.C. low level suite.

First Floor

Communal Landing with a door leading to external rear fire escape. A self contained First Floor Flat comprising: Landing, Lounge, Kitchen, No. 1 Bedroom (double), No. 2 Bedroom (double) rear entrance lobby and Bathroom with bath, wash hand basin and W.C. low level suite.

Second and Third Floors

A Self Contained Maisonette comprising: On the Second Floor Half Landing, Landing, Lounge, Kitchen, Study/No. 4 Bedroom (single), and Shower Room with shower cubicle, wash hand basin and W.C. low level suite On Third Floor Landing, No. 1 Bedroom (double), No. 2 Bedroom (double), No. 3 Bedroom (single).

Outside

Gravelled front garden and enclosed rear courtyard garden.

Outbuildings

Underbuilt storage cellar and a single garage.