The Brooks, Deben Meadows, Melton, Woodbridge

£950,000.00 / For Sale
Address: Deben Meadows, Melton, Woodbridge, IP12 1NH

Property Description

Attractive Residential &Commercial Investment Opportunity.
– Purpose built block of flats & offices completed in 2021.
– All 6 flats are let by way of ASTs producing £42,000 per annum
– Ground floor – 2 self-contained business units, each comprising 528 sq. ft. completed to a shell finish

LOCATION
Melton is a village approximately one mile north east of Woodbridge with an approximate population of 3,720.

The historic market town of Woodbridge is situated 7 miles north east of Ipswich and stands adjacent to the River Deben.

From Woodbridge proceed along Melton Hill (B1438). After approximately 0.75 of a mile the entrance to Deben Meadows will be found on the right hand side.

Deben Meadows comprises a development of 54 houses and apartments nearing completion with business units at ground floor.

DESCRIPTION
A purpose built, mixed residential and commercial block constructed of cavity brick walls under a pitched slate roof.

The ground floor is arranged as two self-contained business units, each with the benefit of one parking space.

The entrance foyer provides stairs and a lift to the apartments situated on the first, second and attic floors. Each apartment has one bedroom with bathroom, open plan kitchen/diner/living area.

TERMS
The property is to be sold freehold subject to Service Charge.

Offers sought in the region of £950,000 (Nine Hundred and Fifty Thousand Pounds), reflecting a gross yield of 5.7%.

SERVICE CHARGE
The owner of the property will be a member of the management company which is responsible for the landscaping, maintenance, road maintenance and street lighting on the estate. It is envisaged that these costs will amount to a total of £1,915 per annum.

The owners will be responsible for their own Service Charge apportionments on the block for shared services which would include cleaning of communal areas, emergency lighting, fire alarm, smoke detectors, building insurance and lift
maintenance.

PLANNING
Town Planning - The rentals achieved under the Assured Shorthold Tenancies are based on the Local Authority affordable rent scheme.

Under the scheme, the rentals are to be offered at 80% of market rent.

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