Details

Boydens are pleased to offer off-market this investment opportunity showcasing a two-bedroom flat situated to the south of Colchester city centre. This property is within close proximity to local amenities, yet offers the charm of country life at your doorstep.

The property comprises an open-plan lounge/dining space, a separate kitchen, and two bedrooms. The principal bedroom provides ample space for a double bed, while the second bedroom offers comfortable accommodation for residents or guests. These bedrooms are complemented by a family bathroom featuring a bath with a shower over, WC, and sink, ensuring convenience and comfort for occupants.

Externally, the property benefits from a communal garden area with a shed, a dedicated parking space, and additional communal visitor parking spaces, enhancing convenience for residents and guests alike.

Rose Court is located just off Mersea Road to the south of Colchester, Britain’s oldest recorded city, with easy access and transport links to Colchester town and the mainline station. Local amenities include shops, takeaways, convenience stores, a local public house, nurseries, and schools. Additionally, the picturesque Friday Woods is just a stone's throw away, ideal for walks and outdoor activities.

The current tenant has agreed to a rent increase to £820 per calendar month on a new 12-month tenancy, with a six-month break clause.

Important Information:

Purchase of this property is subject to a buyer's premium of 2% of the sale price, plus VAT.
There is an obligation to retain Boydens' management services for two years from the completion date.
Service Charge: £1,600 per annum
Ground Rent: N/A
Lease Length: 999 years

Yields:
At an increased rental price of £820 pcm, this property would generate a yield of 5.89% if purchased at £140,000.

This investment opportunity is ideal for those looking to expand their portfolio with a property in a desirable location, offering a fair yield (with room for capital growth) and a stable tenancy.