23 & 25 Warwick Gardens, Worthing

23 & 25 Warwick Gardens,
Worthing, West Sussex, BN11 1PF

For Sale
Investment

Offers in excess of £875,000

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Rare Town Centre Residential Investment Opportunity

Location

A rare opportunity to purchase a fully let residential investment in Warwick Gardens in the heart of Worthing Town Centre. Warwick Gardens is situated close to the popular seafront and Steyne Gardens whilst also being a short walk away from the major shopping & leisure streets of Montague Street, Warwick Street and South Street. The towns mainline railway station with regular services along the coast and north to London (journey time of 1 hour 30 minutes) is a 15 minute walk from the subject property. Worthing is a popular seaside town with a population in excess of 100,000 and is located in between the cities of Brighton (13 miles east) and Chichester (18 miles west).

Description

The property comprises of a mid terrace brick built building under a tiled hung roof. Both 23 & 25 have their own front door access leading to communal hallways with flats split over ground and first floor levels. Internally the flats do require some modernisation works although it should be noted that the flats have had extremely low void periods for the current vendors. There is no gas at the property and therefore heating is by way of electric night storage heaters whilst the bathrooms are serviced by electric showers. Each flat has a kitchen with open plan living accommodation with separate bathroom. There is an extensive loft area above the properties which could provide further accommodation in the future subject to obtaining any necessary planning consents. Externally to front there is off road parking for two vehicles whilst at the rear there is an ample small courtyard. Viewing of this rare opportunity is highly recommended.

Accomodation

Name/FloorSq FtSq MAvailability
Ground 23 Warwick Gardens - Flat One30127.96Available
Ground 23 Warwick Gardens - Flat Two22621Available
1st 23 Warwick Gardens - Flat Three64559.92Available
Ground 25 Warwick Gardens - Flat One30127.96Available
Ground 25 Warwick Gardens - Flat Two26924.99Available
1st 25 Warwick Gardens - Flat Three43039.95Available
1st 25 Warwick Gardens - Flat Four19317.93Available
Total2,365219.72 

Terms

Freehold subject to the tenancies noted within the marketing particulars

Council Tax Banding

The flats have the current Council Tax bandings:

23 Warwick Gardens
Flat 1 - A
Flat 2 - A
Flat 3 - A

25 Warwick Gardens
Flat 1 - A
Flat 2 - B
Flat 3 - A
Flat 4 - B

Photographs

With the exception of the external images the photographs used in the marketing particulars have been provided to us by the Vendor and are from when the flats were previously vacant. Interested parties are asked to verify the properties condition by arranging an internal inspection.

Summary

  • Comprising of 7x Flats - All Let on AST Agreements
  • Currently Producing £55,140 Per Annum
  • Net Yield of 5.97%
  • Situated in Heart of Worthing Town Centre
  • Potential to Break Up / Increase Rents
  • Off Road Parking