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1Flat
2 1INVESTOR YIELD 9.42% / RETIREMENT BUYERS. Situated on the FIRST FLOOR, a 2 BEDROOM APARTMENT in need of updating. Suitable for retirmement, being restricted to over 55's only. Emergency assistance alarm and lift access if required. Secure gated entry. Within a short walk of town amenities and shops, including bus station with regular services.
Description - Occupying a first floor location, with lift access if required, is this 2 bedroom apartment, which is in need of some updating and modernisation, with night storage and panel heating, together with double glazing. The accommodation comprises; Entrance hall, lounge/dining room, kitchen, 2 bedrooms, both with built-in wardrobes and a good size bathroom. There is a secure entry to this purpose built block, car park on a first come first serve basis. The property is leasehold with a 125 year lease granted in 1991, with a service charge of just under £200 per month. The apartment is fitted with emergency pull cords for assistance and is restricted to occupants of over 55's only.
Location - Located within a very short walk of the town centre, everything you need is close to hand, including banks, post office, shops, cafes, even the park and Castle grounds. Set amidst the rolling green Cornish countryside, Launceston is known as the gateway to the county and sits on the Devon border. The towns skyline is dominated by the ruins of a Norman castle that stands high on a hillside with dramatic views over Bodmin moor and Dartmoor. The castle was a strategically important building after the Norman Conquest and its green was used for executions until the 19th century. This property enjoys a view toward the Castle. The town is situated between the north and south coasts, so is convenient for beaches and the Cornish countryside. The surrounding area offers leisure for all types including two golf courses and Roadford Lake Country Park where visitors can fish, sail, windsurf, cycle, row, kayak and camp. Shopping is excellent with plenty of big names alongside quirky independent shops, with a Marks and Spencer Food Hall, Tesco, Iceland, Argos and Pets at Home, to name a few. The A30 will see you onto the M5 at Exeter in under 45 minutes and the A388 will get you to Plymouth in under an hour. The seaside resort of Bude is just 17 miles away.
The Accommodation - (all measurements are approximate)
Entrance Hall - Emergency pull cord. Night storage heater. Built-in shelved cupboard. Wall mounted recessed electric fuse board. Telephone point.
Lounge/Dining Room - 5.10m x 3.54m max. (16'8" x 11'7" max.) - Window to rear. Two Night storage heaters. TV point. Opening into;
Kitchen - 2.19m x 2.18m (7'2" x 7'1") - Window to rear. Fitted with range of wall and base units incorporating single drainer sink unit, tiled splashback. Space for cooker with extractor over and space for washing machine.
Bedroom 1 - 4.04m x 2.68m (13'3" x 8'9") - Plus double built in wardrobe. Electric panel heater. Window to front.
Bedroom 2 - 3.00m x 2.02m max. (9'10" x 6'7" max.) - Plus recessed built-in wardrobes. Window to front. Electric panel heater.
Bathroom - 2.76m max x 2.18m max. (9'0" max x 7'1" max.) - Built-in airing cupboard housing hot water cylinder. Bath with electric shower over. Low level WC and pedestal wash hand basin. Extractor fan. Heated towel rail. Dimplex wall heater.
Services - Mains water, electricity and drainage. Lift access. Secure gated entry. Emergency assistance alarm.
Tenure - Leasehold. 125 year lease granted in 1991 (93 years remaining). Service charge £2649.12 per annum, being £268.29 per month. The building has recently been fully redecorated externally. Restricted to Over 55's only.
Local Authority - Cornwall Council - Council Tax Band A.
Attention Investors - Our Lettings department have confirmed that the approximate rental value is in the region of £550pcm which would bring an investor a rental yield of approximately 9.42%. The purchaser/occupier would need to be 55 or over to comply with the occupancy restriction.
