1 bed flat for sale

Apartment, The Sorting Office, West Cliff, Preston PR1

Description

This excellent one-bedroom Luxury apartment is in the heart of Preston town centre minutes away from Train Station, shopping malls and University.

This wonderful larger than average and ultra stylish one-bedroom self-contained apartment which occupies a total floor space of around 73m2. The property briefly comprises of; entrance hallway leading to a spacious open-plan lounge/diner and fully fitted kitchen with all appliances included. There is also a spacious double bedroom and extremely modern bathroom. The apartment is located on the Lower ground floor and has its own outside rear balcony with space for off-road parking also included.

The Sorting Office is in an ideal location with Preston growing at an impressive rate - several major investments are underway to improve the area and as a result, the city is on the verge of an economic boom. In particular, the Guild Hall, has received a £10m investment over the past three years, and the Preston Markets have had a £3m revamp, as well as a high street make over.

There's no denying that this bustling, vibrant city is up there with other major players, making it a property hotspot for investors to increase their portfolio of rental properties. This is not an opportunity to be missed.

The annual current rental income is £9,600 which is just under 7% net yield however possible to increase the annual rental income to £12,000 (over 8% Yield).

Council Tax Band: A (Preston City Council)
Tenure: Leasehold (250 years)
Ground Rent: £350 per year
Service Charge: £1,975.78 per year