The property professionals

 

SSTC 53 Bed Detached House 

The Strand Guide Price £3,500,000

Property Features

Location:
The Strand, Bude, Cornwall, EX23 8FH
Bedrooms: 53
Bathrooms: 35

Contact Agent

Colwills Estate Agents, Bude Office

About the Property

RESIDENTIAL INVESTMENT OPPORTUNITY The site is irregular in shape and extends to 0.2 HA (0.55 acres). The property was built in 2008 and comprises two separate blocks arranged as a... Read More
  • Purpose built block of 15 apartments and 8 town houses
  • Prime town centre location
  • Passing rent of £179,340 Gross Yield of approximately 4.8%
  • All units benefit from a secure underground parking space 8 additional external spaces
  • Freehold interest

Property Photos

Property Details

Description

DESCRIPTION The site is irregular in shape and extends to 0.2 HA (0.55 acres). The property was built in 2008 and comprises two separate blocks arranged as a courtyard, overlooking a central square.

There are 23no. units in total which include 1-3 bedroom apartments and 2-4 bedroom townhouses. The smallest block, situated to the south west of the site, comprises 4no. 1 bed apartments on the ground floor and 4no. 3 bed duplex apartments on the first and second floors. The larger block, situated to the north and west of the site, is built over 3 storeys and comprises 3 x 1 bed apartments, 2 x 2 bed apartments, 2 x 2 bed duplex apartments, 1 x 2 bed town house, 3 x 3 bed town houses and 4 x 4 bed town houses. One of the 1 bedroom apartments is currently used by the caretaker.

The apartments vary in size from 37 sq m (398 sq ft) for a 1 bed to 75 sq m (807 sq ft) for a 3 bed and the town houses range from 68 sq m (732 sq ft) for a 2 bed to 134 sq m (1442 sq ft) for a 4 bed. All of the units benefit from an allocated parking space in the underground car park.

LOCATION Bude is a popular seaside town situated on the north Cornish coast. The town offers a variety of local services and amenities including two primary schools, a secondary school and number of supermarkets. There are also a range of sandy beaches including Summerleaze Beach, which is a popular destination for tourists and surfers.

The town is well connected. Main road communication is via the A39 which connects towards Barnstaple and the North Devon coast in the north east and towards Wadebridge and southern Cornwall in the south west. Local bus services also run to Exeter, Plymouth and Okehampton as well as destinations on the outskirts of the town.

The subject property is located in the heart of Bude's bustling town centre. It is situated just off The Strand, adjacent to the River Neet and is within close proximity to a variety of local restaurants, independent shops and Summerleaze Beach.


UNIT SCHEDULE

UNIT NO.1 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 39 AREA SQ FT 420

UNIT NO.2 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 37 AREA SQ FT 398

UNIT NO.3 HOUSE TYPE Duplex Apartment NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge/ dining room, 2 bedrooms and 2 bathrooms. AREA SQ M 87 AREA SQ FT 936

UNIT NO.4 HOUSE TYPE Duplex Apartment NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge/ dining room, 2 bedrooms and 2 bathrooms. AREA SQ M 74 AREA SQ FT 797

UNIT NO.5 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 39 AREA SQ FT 420


UNIT NO.6 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 36 AREA SQ FT 388

UNIT NO.7 HOUSE TYPE Duplex Apartment NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge/ dining room, 3 bedrooms and 2 bathrooms. AREA SQ M 86 AREA SQ FT 926

UNIT NO.8 HOUSE TYPE Duplex Apartment NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge/ dining room, 3 bedrooms and 2 bathrooms. AREA SQ M 75 AREA SQ FT 807

UNIT NO.9 HOUSE TYPE Town house NO OF BEDS 4 DESCRIPTION Open plan kitchen/ lounge/ dining room, 4 bedrooms (with master ensuite) and separate family bathroom. AREA SQ M 134 AREA SQ FT 1442

UNIT NO.10 HOUSE TYPE Town house NO OF BEDS 4 DESCRIPTION Open plan kitchen/ lounge/ dining room, 4 bedrooms (with master ensuite) and separate family bathroom. AREA SQ M 134 AREA SQ FT 1442

UNIT NO.11 HOUSE TYPE Town house NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge, 3 bedrooms, 1 bathroom and 2 cloakrooms. AREA SQ M 74 AREA SQ FT 797

UNIT NO.12 HOUSE TYPE Town house NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge, 3 bedrooms, 1 bathroom and 2 cloakrooms. AREA SQ M 75 AREA SQ FT 807

UNIT NO.14 HOUSE TYPE Town house NO OF BEDS 3 DESCRIPTION Open plan kitchen/ lounge, 3 bedrooms, 1 bathroom and 1 downstairs toilet. AREA SQ M 68 AREA SQ FT 732

UNIT NO.15 HOUSE TYPE Town house NO OF BEDS 2 DESCRIPTION Open plan kitchen/ lounge, 2 bedrooms, 1 bathroom and 1 downstairs toilet. AREA SQ M 63 AREA SQ FT 678

UNIT NO.16 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 45 AREA SQ FT 484


UNIT NO.17 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 34 AREA SQ FT 366

UNIT NO.18 HOUSE TYPE Duplex Apartment NO OF BEDS 2 DESCRIPTION Open plan kitchen/ dining room, living room, 2 bedrooms and 2 bathrooms. AREA SQ M 90 AREA SQ FT 969

UNIT NO.19 HOUSE TYPE Duplex Apartment NO OF BEDS 2 DESCRIPTION Open plan kitchen/ dining room, living room, 2 bedrooms and 2 bathrooms. AREA SQ M 70 AREA SQ FT 753

UNIT NO.20 HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 1 bedroom and 1 bathroom. AREA SQ M 54 AREA SQ FT 581

UNIT NO.21 HOUSE TYPE Apartment NO OF BEDS 2 DESCRIPTION Lounge, kitchen, 2 bedrooms and 1 bathroom. AREA SQ M 45 AREA SQ FT 484

UNIT NO.21A HOUSE TYPE Apartment NO OF BEDS 1 DESCRIPTION Lounge, kitchen, 2 bedrooms and 1 bathroom. AREA SQ M 38 AREA SQ FT 409

UNIT NO.22 HOUSE TYPE Town house NO OF BEDS 4 DESCRIPTIONOpen plan kitchen/ lounge/ dining room, 4 bedrooms (with master ensuite), 2 separate family bathrooms and a downstairs loo. AREA SQ M 120 AREA SQ FT 1292

UNIT NO.23 HOUSE TYPE Town house NO OF BEDS 4 DESCRIPTIONOpen plan kitchen/ lounge/ dining room, 4 bedrooms (with master ensuite), 2 separate family bathrooms and a downstairs loo. AREA SQ M 122 AREA SQ FT 1313

TENANCIES AND OCCUPANCY The properties are let on either fixed term or periodic Assured Shorthold Tenancies. The tenancy terms vary from 6 - 12 months.

The property is currently 100% let, with a total rental income of £179,340. Rent has been charged ranging from £510 PCM (£6,120 per annum) for a 1 bedroom apartment to £850 PCM (£10,200 per annum) for a 4 bedroom town house.

The rents have not been increased for a number of years and we believe that a realistic gross rental income that could be achieved at the property is in the region of £190,000 which represents a 6% increase on the current gross rental income.

Full details on the AST's and the rental breakdown can be provided upon request.
Based on the current gross income the Gross Initial Yield equates to approximately 4.8%.

MANAGEMENT The property has always been let by Colwills and managed directly by the landlord.

TENURE & TITLE The property is registered under title number CL199343 and is owned freehold (title absolute). The access road is registered under a separate title number CL61558. Both freehold interests are being offered, subject to tenancies.

SERVICES Mains gas, electricity, water and drainage are all connected. There is gas fired central heating with combi boilers feeding water fed radiator systems.

Gas and electricity are separately metered, water and drainage are included within the rent.

ENERGY PERFORMANCE CERTIFICATES Each property is separately rated for energy performance. Each has a rating of C, except unit 21 which has a rating of B. An example is shown and all EPC's can be provided upon request.

GUIDE PRICE Offers in excess of £3,750,000.

Any guideprices quoted or discussed are exclusive of VAT. In the event that a sale or any part of it or any right attached to it becomes chargeable for the purpose of VAT, such tax shall be payable by the purchaser.

VIEWING Viewing is strictly by prior appointment with joint agents Savills and Colwills.
Prospective purchases should note that Savills and Colwills take no responsibility for any injury or accident at the property. Viewers visit the property at their own risk.

FURTHER INFORMATION Further information is by clicking on the following link:
Strand Court, Bude - Technical Pack
This includes:
- Floor Plans
- Title Register and Plan
- EPCs
- Additional photographs
- Accommodation schedule (including rents)
- Accounts from 1st April 2019 - 31st March 2020
- Utilities searches

Floorplans

Energy Performance Certificates

Enquire / Book Viewing

Contacting Colwills Estate Agents, Bude Office

  • arrange a viewing
  • arrange a valuation
  • be sent further property details
  • register for property updates

Contact Details: