SUPERB INVESTMENT OPPORTUNITY!
SOMERLED APARTMENTS is presently arranged as 7 x ONE, TWO & THREE BEDROOM APARTMENTS offering an EXCELLENT RENTAL YIELD and situated in the sought after MARKET TOWN OF AXBRIDGE
- INVESTMENT OPPORTUNITY
- IMPOSING PERIOD DWELLING
- WELL MANAGED & MAINTAINED
- ARRANGED AS 7 X APARTMENTS
- RANGE OF 1/2/3 BEDROOMS
- COMMUNAL GARDENS
- FREEHOLD OF ADJACENT CAR PARK
- FURTHER DETAILS UPON REQUEST
Somerled Apartments is a Grade II listed building arranged as seven x one, two and three bedroom apartments in the sought after Market Town of Axbridge.
Originally a large Gentleman’s residence, the property was thought to have been converted into offices in the 1950’s, being the main offices of the old Rural District Council.
In the mid 1970’s they became the offices of a large local Surveying company, before being extended and converted into flats by the present owner approximately ten years ago.
As an investment, the property has had a very high occupancy record, with precise yields available from the current Managing Agent. Currently there are two apartments vacant, but these are not being advertised whilst the sales process commences.
There are two main entrances to the building via the Georgian frontage with multi paned sash windows.
The main entrance leads into a communal hallway within the projecting wing and this leads to a further five apartments. In the front, older part of the building there are three apartments consisting of:
Apartment 1, the largest of the apartments, offering spacious three-bedroom first floor accommodation and lovely views
Apartment 2, a smaller two/threebedroom lower ground floor apartment and
Apartment 3, a compact one bedroom lower ground floor apartment.
A corridor leads to the rear of the building where there is access to a further two apartments that are within a modern extension to the rear of the building. These are
Apartment 4, a two-bedroom ground floor apartment and
Apartment 5, a two-bedroom first floor apartment, both of similar dimensions.
Also to the front of the building, a second door leads to a small communal hallway with doors to Apartment 6, a two-bedroom upper ground floor apartment and
Apartment 7, also an upper ground floor apartment but with one bedroom.
These both have the benefit of the use of the front paved courtyard area.
To the outside, and at the rear, there is a small communal garden area with clothes drying facilities.
To the east of the property (and separated by another dwelling) there is a large car park, the Freehold of which belongs with 5 West Street and which will form part of the property to be sold. This car park is shared, including costs, with Choate House, 2 West Street, Axbridge which is an apartment block opposite, and the Management Company of which has a long lease on a section of the car park. Additionally, two of the neighbouring residential dwellings has one space each.
Somerled Apartments, 5 West Street, owns and has the right to park in 12 car parking spaces, effectively giving all of the two & three bedroom apartments two parking spaces each, with the one bedroom apartments having one space each.
The property has been maintained to a high standard by the present owners and offers an excellent gross yield in the region of 5%.
Further details are available upon request and any enquiries should be directed to the vendor's Sole Selling Agents, CJ Hole, on 01934 740055.