Newmarket

A very rare opportunity to purchase a modern freehold residential investment property consisting of a four 2 bedroom houses and four 2 bedroom apartments and the potential to build two further 2 bedroom apartments, all situated in the thriving horse racing town of Newmarket.

Fully let providing an annual income of £87,420

Potential annual income of £99,600

Further potential after development for an annual income of £121,200

Location
Newmarket is renowned as the British Headquarters of horse racing offers an interesting and varied range of local shops and amenities. These include the National Horse Racing Museum, a twice weekly open air market, hotels, restaurants and modern leisure facilities. There is a regular railway service to London’s Kings Cross and Liverpool Street stations via Cambridge. An excellent road network links the region’s principal centres, including the University City of Cambridge and the historic market town of Bury St Edmunds, both approximately 13 miles from Newmarket.

DESCRIPTION
Sycamore House is a purpose built development of four houses and four apartments, understood to have been constructed in about 2003. All the properties have two bedrooms, however the two 1st floor apartments also have en suite shower rooms to the master bedrooms. The properties are all heated via thermostatically controlled electric radiators and double glazing is fitted throughout. Sycamore House is set within its own grounds with a tarmac drive leading to the residents car parking area and beyond a communal garden.

The vendor has also had planning permission granted to further develop the site by constructing two further 1 bedroom units above the apartments.
The residential properties are all let on assured shorthold tenancy agreements.
 
SERVICES
Mains electricity, water and drainage are available to the premises.

TENANCIES

House 1 is let on an assured tenancy currently and has a potential to be £1000pcm.
 
House 2 is let on an assured tenancy and has a potential to be £1000pcm.
 
Apartment 3 is let on an assured tenancy and has a potential to be £1050pcm.
 
Apartment 4 is let on an assured tenancy and has a potential to be £1100pcm.
 
Apartment 5 is let on an assured tenancy and has a potential to be £1050pcm.
 
Apartment 6 is let on an assured tenancy and has a potential to be £1100pcm.

House 7 is let on an assured tenancy and has a potential to be £1000pcm.

House 8 is let on an assured tenancy and has a potential to be £1000pcm.

EPC RATINGS
The property has multiple EPCs which are as follows

House 1: D
House 2: D
Apartment 3: C
Apartment 4: C
Apartment 5: C
Apartment 6: D
House 7: D
House 8: D

ACCOMODATION
All measurements are approximate.
 
House 1: 64sqm
House 2: 64sqm
Apartment 3: 68sqm
Apartment 4:68sqm
Apartment 5: 68sqm
Apartment 6: 68sqm
House 7: 64sqm
House 8: 64sqm

Future Development

The vendor has obtained planning permission to further extend the apartments by adding two further 1 bedroom units above the existing apartments. The planning reference number is DC/20/0220/FUL

Tenure
The property is freehold.
 
The property is not in an conservation area. The property is in a low flood risk area.
 
Viewing: Strictly by prior arrangement with Pocock + Shaw. PBS