23 Castle Road comprises a four storey Grade II Listed mid-terrace house, which was converted in the year 1990's for uses for residential flats. Planning permission reference 89/0968. The Flats are arranged as one per floor and each are full self-contained with separate services, two have gas fired central heating and two have an electric heating system.
The property has been in the same ownership for many years and held half as an investment. Three of the flats are currently let on Assured Shorthold Tenancies Agreements, to long standing tenants. Tenancy commencement dates between 2002-2009.
The property is in generally fair condition throughout, taking into account its age, type and use. It offers future owner the opportunity to add value by way of improvements and good management, to produce a high yielding investment property.
We estimate that the flats could command rentals between £500-£525 per calendar month, giving potential future rental income of between £24,000-£25,000 per annum. Other details can be obtained by the Agents and viewing is strictly by prior appointment with the Agents, who will need to give adequate notice to the current tenants.