Opportunity to purchase an apartment in Great Yarmouth generating £5,400 rent pa & gross yield of 7.7%
£70,000
Apartment
VES-NR30-001
INITIAL INVESTMENT
£22,100
Based on
deposit: £17,500
stamp duty: £2,100
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£5,400
GROSS YIELD
7.7%
The property
TENANCY
Tenanted
TENURE
Leasehold
GROUND RENT
£10
SERVICE CHARGE
£492
1 bedroom
1 bathroom
1 reception room
366
Unfurnished
Leasehold information
- Length of lease: 125 years
- Year lease started: 2004
- Years left on lease: 107 years (from 2022)
- Service charge review period: tbc
- Ground rent review period: tbc
Property information
- Located on the second floor
- Open plan kitchen/living room
- Double bedroom with built-in wardrobe
- Bathroom
- Juilette balcony facing south-west with views over the river
- Gas-fired central heating
- UPVC double-glazed windows
- In the entrance hall is a built-in airing cupboard housing the pre-insulated copper hot water cylinder with a fitted immersion heater
- New vinyl flooring as well as new oven & hob fitted in 2019
- Communal drying area
- Bin store and external store
- EPC rating C
- Council tax band A
- Monthly rental income £450
- The landlord also pays £29.45 pa for communal electricity
Location information
- The property is located just south of Great Yarmouth town centre
- The town centre can be reached in less than 10 minutes walk
- Great Yarmouth railway station is just under 1 mile from the property
- The beach can be reached in around 12 minutes on foot
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
Tenancy
RENT
£5,400 p.a. / £450 pcm
TENANCY DEPOSIT
£519
TENANCY TYPE
AST
TENANCY AGREEMENT STARTED
16 months ago
TENANCY AGREEMENT ENDS
Periodic
Documents available on request, please contact for viewings or further questions.
The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.
Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.
About Great Yarmouth, Norfolk
Great Yarmouth is a seaside resort town in Norfolk in the East of England. It lies around 20 miles east of Norwich and 55 miles northeast of Ipswich.
The town is served by the A47 connecting it to Birmingham and Lowestoft, as well as the A143 which runs from Great Yarmouth to Haverhill in Suffolk.
Great Yarmouth railway station is on the Wherry Lines with regular services by Greater Anglia to Norwich via Acle or via Reedham. There are proposals to run direct services to London Liverpool Street, Stanstead Airport and Peterborough from 2025. The nearest airport is Norwich Airport, which lies around 23 miles west of Great Yarmouth.
Great Yarmouth is perfectly located for outdoor lovers with 15 miles of sandy beaches and the surrounding Broads National Park there is something for everyone. Some of the local attractions include the Pleasure Beach Gardens, Joyland, Pleasure Beach, Britannia Pier, Sea Life Centre, Jurassic Journey, Merrivale Model Village, Elizabethan House Museum, Lacons Brewery, Museum of Great Yarmouth and Yare Gallery to name a few.
The local area also provides habitats for several roosting birds as well as seals. Halvergate Marshes and the surrounding area are environmentally protected and managed by conservation organisations such as the RSPB. The North Denes area of the beach is a Site of Special Scientific Interest due to its dune plants and wildlife. A nearby cemetery is also a renowned temporary roos for spring and summer migrating birds.
There are some great shopping opportunities in town. The town centre shops, with all the usual high street brands, surround the marketplace at the heart of Great Yarmouth. The 6-day market offers a variety of food stalls, books, flowers, seafood, bread and confectionery, cobbler, as well as fresh fruit and vegetables. Every Wednesday and Saturday extra stalls offer additional wares such as clothes, jewellery, tools, home & garden wares and many more.
Great Yarmouth also has some fantastic restaurants and cafes serving a wide range of cuisines from a good old English breakfast to cosy lunches, local seafood and modern contemporary British meals.
Employment in the area is largely linked to the tourism and hospitality sectors, however, the health industry is the largest by the total number of jobs in 2020.
South Quay,
Great Yarmouth,
Norfolk,
England,
NR30 2RN
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