Property ID : 111017
Sold subject to contract £88,500.00 - Flat
LOOKING FOR A PIED-A-TERRE IN A SEAFRONT LOCATION WITH PRIVATE BALCONY
A well presented first floor apartment most conveniently situated in a seafront location betwixt St Leonards and Hastings. Being just off the promenade there is easy access to all central amenities, shops, leisure venues, bus routes and a short stroll to the mainline railway stations.
Park Lane Mansions is a Victorian terraced building converted in the 1990s, certainly a seafront facing landmark block, this particular apartment is situated in the rear of the building overlooking the tranquil communal courtyard.
The property comprises of a spacious lounge with alcove kitchen, double bedroom with ample built in storage and modern fitted bathroom.
The owners have enjoyed this lucrative investment for many years, in the current market the next owner could potentially achieve £6,300 per year, giving a yield of 7.1%.
This is just not for investors though, it would be an ideal first time buyer acquisition, a bolt hole by the sea or enough space for someone downsizing.
The seller advises that there are 162 years remaining on the lease. Services charges are paid six monthly at £548.43. Reserve fund payments are also paid 6 monthly at £116.50. Ground rent is peppercorn following the lease extension in April 2014. The agent has not had sight of confirmation documents and therefor the buyer is advised to obtain verification from their solicitor or surveyor.
3.33m (10’11) x 3.58m (11’9)
2.12m (6’11) x 2.06m (6’9)
3.2m (10’6) x 3.18m (10’5)
1.57m (5’2) x 1.93m (6’4)