This attractive three bedroom cottage offers accommodation over three floors. The property comprises; entrance lobby, kitchen leads through to a light and bright sitting room with a fireplace. On the first floor are 2 bedrooms and a shower room with WC, and on the second floor is a further bedroom and bathroom with bath and shower over. The cottage further benefits from a rear garden, gas central heating and double glazing.
We believe that this property will make a fantastic investment opportunity. The property is being sold subject to an assured shorthold tenancy. The current rent is £650pcm (£7800pa).
The current gross yield is 6%, based on the current guide price.
In our opinion the market rent is £675pcm and therefore there is potential to increase the rent following completion which will increase the yield.
Tiverton itself is a popular market town with an excellent range of shopping and leisure facilities, including supermarkets and a mix of high street and independent retailers. It offers access to the M5 and Tiverton Parkway station.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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