Milford Haven - 31 bed - £1,995,000 - Guy Thomas & Co

Property details

Bedrooms: 31

AN EXCELLENT RESIDENTIAL INVESTMENT OPPORTUNITY PROVIDING A LUCRATIVE RENTAL INCOME AND PROFITS WITH POTENTIAL FOR A FUTURE 'BREAK UP' IF REQUIRED

Description
Elizabeth Venmore Court was created from the former Lower Central School circa 2001/2002. It comprises 31 Apartments - 25 in the Main Building and 6 in the Rear Block.

In addition to the well appointed self-contained Apartments there is a spacious Resident's Lounge/ Function Room with Dining and Games Areas, two Laundry Rooms, a Guest Bedroom and an Office etc. Externally, the Grounds are attractive and include a Roof Garden. There is extensive Car Parking to include one space per Apartment.

Milford Haven is situated on the north side of the Milford Haven Waterway and is about six miles or so south of the County Town of Haverfordwest. Elizabeth Venmore Court is well positioned for easy access to the local amenities including the attractive Marina plus the Shops, Banks and the recently opened new Doctors' Surgery.

THE APARTMENTS
These are either 2 Bedroom or 1 Bedroom and there are a variety of styles and layouts. Each Apartment is self-contained and has gas fired central heating plus uPVC framed double glazing.

FINANCE ETC
The Apartments are let on Assured Shorthold Tenancies. Average occupancy levels around 95%. Gross Annual Rental Income is apparently around £156,000 which generates a Net Profit in excess of £100,000 (to be confirmed).

The Freehold of Elizabeth Venmore Court is owned by Gray Home Sales Limited. The existing debt is around £1,000,000. The loan has around 10 years unexpired and the interest rate is 0.75% above the Bank Base rate. It is understood that it is possible for the Purchaser of Elizabeth Venmore Court to take over the loan. Details to be confirmed.

DIRECTIONS
Proceed into Milford haven on the A4076 from the north side. Continue passed the Filling Station on the right hand side. Elizabeth Venmore court will be found on the left hand side on the North Road/Yorke Street corner.