INVESTMENT OPPORTUNITY WITH ESTABLISHED TENANT IN SITU!

Miles & Barr are extremely pleased to be offering this one bedroom balcony flat located within the very heart of Westgate-on-sea. The property itself offers sea views to the front and internally boasts a spacious lounge, fitted kitchen with access out to a private balcony, a master bedroom and a family bathroom. Externally there is also an allocated car parking space. The property is being sold with a well established tenant in situ meaning this could be the perfect investment opportunity with an immediate income. There is currently a NET yield of 5.36% with scope to increase in the future.

Financial Breakdown

Gross Rent: £7,800.00
Net income: £7,500.00
Gross yield: 5.57%
Net yield: 5.36%

This property was constructed with Brick and Blocks and has had no adaptations for accessibility.

Identification Checks:

Should a purchaser(s) have an offer accepted on a property marketed by Miles & Barr, they will need to undertake an identification check. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use a specialist third party service to verify your identity. The cost of these checks is £60 inc. VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.

Location Summary:

Westgate is regarded by some as a well-kept secret amongst the towns and villages along the North coast of Kent. This picturesque village provides a variety of shops, bars, restaurants and cafes. Westgate also has its own railway station providing a regular service to London Victoria and in the other direction to the popular seaside towns of Margate, Broadstairs and Ramsgate. There are many grand and historic buildings to be found in the area including the magnificent listed Carlton Cinema and lovely balcony apartments overlooking garden squares. There are a number of highly regarded schools to be found in the area in both the public and private sectors including grammar schools. You will also find a number of leisure and recreational facilities in the area including Westgate golf course, endless miles of promenade for runners and walkers as well as numerous other sports clubs.