Witney, OX28 1HY | Investment Property for Sale | VES-OX28-001

Opportunity to purchase a terraced house in Witney generating £26,400 rent pa & gross yield of 4.8%

£550,000

Terraced House

VES-OX28-001

INITIAL INVESTMENT

£174,000

Based on

deposit: £137,500

stamp duty: £34,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£26,400

GROSS YIELD

4.8%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

4 bedrooms

4 bathrooms

2 reception rooms

2,108

Fully Furnished

Property information

  • Spread over 3 floors
  • Grade II listed mid-eighteenth century stone building
  • Property has been with the same owners since 1999
  • It has been extended and renovated to the highest standards
  • Large walk-in storage room to the rear of the house
  • The front room is currently used as a ground floor bedroom
    • It has an 8ft exposed stone inglenook fireplace with wood-burning stove
  • The rest of the ground floor is a large open-plan kitchen/dining/sitting area
    • The flagstones in this area have under-floor electric heating
  • Small closet WC downstairs
  • In the rear area on the first floor is a study/media room, which can also be used as a guest room
  • 3 bedrooms come with en-suites
  • The master bedroom takes up the entire second floor
  • There is a lovely courtyard garden with mature fruit trees, a stone-built garage, and workshop
  • There is private vehicle access to the rear of the property with two secure parking spaces

Other information

The property is for sale as freehold and comprises of two separate titles. The land to the rear of the property was purchased to extend the garden and build the garage. Both titles are included in the sale. The property is fully furnished and all furnishings are available as part of the property sale.

Rental information

  • Current montly rental income £2,200

There are currently four lodgers in the property with the owner acting as a live-in landlord. All have written lodger's agreements and are on a rolling one-month contract. The property has also previously been let in its entirety on an assured short-term tenancy.

  • Potential to increase rents

The two rooms at the back of the first floor (a bedroom & the study/guest room) are currently retained unlet by the landlord. These could be let and there is even space to install an additional ensuite shower room. At the current market rate, and with an additional ensuite, the landlord would offer these at £650 pcm, increasing the total gross rental income to £2,850 pcm.

However, please note that you will likely require a HMO licence to accomodate the additional room. There may be works required to be undertaken at the property in order to become HMO compliant. Expert advice should be sought to gauge what exactly is required and the cost associated.

Location

Witney is a thriving market town in West Oxfordshire with good road links to Oxford and a nearby rail station for London. Bridge Street is in the catchment area for a number of excellent schools and has a traditional High Street with several pubs, shopping and cinema. The house is right in the centre of town, but as it is close to the bridge over the River Windrush, there is direct access to open countryside walking for several miles in both directions along the river.

Floorplans

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 Witney, West Oxfordshire

Witney is a historic market town 12 miles west of Oxford. The A40, a major trunk road, which runs south of the town, connects it to London and Goodwick in Wales.

Since the 1970s Witney no longer has its own railway station, however the nearest station is only 5 miles away in Long Hanborough. The station is served by Great Western Railway trains between London Paddington and Worcester Shrub Hill.

There are four museums in Witney, the Cogges Manor Farm Museum, the Witney and District Museum, Witney Blanket Hall and the museum in the Wychwood Brewery.

Other top sights in the area are Minster Lovell Hall and Dovecote, Crocodiles of the World, Oxford Bus Museum, Witney Lake and Country Park and Kilkenny Lane Country Park.

Witney has three county secondary schools, Henry Box School, Wood Green School and Springfield School. Cokethorpe School is an independent secondary school. There are a number of primary schools including Our Lady of Lourdes Catholic Primary School, Madley Park Community Primary School and others. The town is ideally located as a commuter town for locals travelling to Oxford for work.

Bridge Street,

Witney,

Oxfordshire,

England,

OX28 1HY

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2020 Vesta Global Limited. All rights reserved.