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3 bed apartment for sale
£225,000Wight Hall Court, The Strand, Isle Of Wight, PO33 1JF
Bedrooms3TypeApartmentRent pcm1408FurnishedFurnished
TenureShared FreeholdGround rent200Service charge3000
Tenanted/VacantTenantedAST detailsuntil2035-10-05
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Three bedroom flat with allocated parking, and access to shared garden with views over the Solent.
The lease states it shouldn't be an HMO, so we have kept to two tenants.
Currently has two tenants in separate rooms who both work at the local Greene King pub. Due to the four week payment schedule, we switched from monthly agreements to £600 & £650 per four weekly period with bills included, generating around £2500 p/a profit. With agreement from other owners the third room could probably be rented for an additional £600 p/m.
Purchase options are either as purchase at around 225000, or company share purchase at 100000 which would drastically reduce SDLT.
Contact the Landlord / Seller about this property
Gross yield calculator
£
£
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7.51%
Stamp duty calculator
£
5% Up to to £125,0006,250
7% £125,001 to £250,0007,000
10% £250,001 to £925,0000
15% £925,001 to 1.5 million0
17% Over £1.5 million0
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£13,250