Duchess Apartments, 172 Upper Wickham Lane, Welling

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STATUS

For Sale

DESCRIPTION

The property is situated in a prominent main road position at the junction with Queens Road and comprises a detached three storey building with parking for up to five vehicles together with cycle storage within the rear yard. The available residential accommodation is set out over first and second floor levels and is configured to provide five x two bedroom flats accessed via a dedicated entrance at the rear all let subject to Assured Shorthold Tenancies. The two first floor flats benefit from large outdoor terraces. The building and flats have been well maintained and are in excellent condition suitable for either letting or owner occupation. Internally the typical layout provides entrance hall, kitchen, living area, bathroom and two bedrooms. Each kitchen benefits from having granite worktops, a gas hob, electric oven and fridge / freezer. Bathrooms benefit from having showers fitted above the baths. Each flat is fitted with gas fired boiler providing hot water and heating.

LOCATION

Welling is a busy and densely populated residential suburb situated in the London Borough of Bexley. The town is popular with commuters and Welling Railway Station is located approx. 0.5m away whilst the A2 and M25 are directly to the South of the town providing access into Central London and Dover.

FLOOR AREA

5 x 2 Bed Flats

TERMS

Tenancies: All five flats are let subject to Assured Shorthold Tenancies and the property produces a total income of £74,760 per annum (gross) in accordance with the following tenancy schedule;

Flat 1: 2 bed, 2 bath – £1250 pcm
Flat 2: 2 bed, 1 bath – £1180 pcm
Flat 3: 2 bed, 2 bath – £1300 pcm
Flat 4: 2 bed, 1 bath – £1250 pcm
Flat 5: 2 bed, 1 bath – £1250 pcm

Tenure: Long leasehold for a term of 999 years from 8th November 2012. A copy of the lease is available on request. A service charge of approx. £1,200pa is due payable to the Freeholder.

Price: £1,475,000 (One Million Four Hundred & Seventy Five Thousand Pounds) for the long leasehold interest, subject to the existing tenancies. Subject to contract.