Excellent investment opportunity comprising seventeen fully self contained one bedroomed apartments, a pair of semi detached bungalows (two bed and three bed) and a block of nine garages. King's Mill is a Grade II listed building converted approx. twenty years ago, the bungalows came slightly later whilst to the side of which lies an area of disused land offering further potential. Essentially fully let and producing approx. £100,000 gross rental per annum. In all 0.9 acres or thereabouts. Freehold for sale as a whole subject to the existing tenancies.
GENERAL REMARKS King's Mill dates back to the late 18th Century, a former important cornmill, rebuilt circa 1800 and extended circa 1850 according to the 'Listing Text' and is located at the end of Sheepfoot Hill lying within easy walking distance of the well served town. We understand the main building was converted approx. twenty years ago to create seventeen one bedroomed apartments the majority of which are a good size internally. Each have mains gas central heating and over the years have enjoyed good levels of occupancy many of the tenants having occupied for a number of years. A sizeable single pair of semi detached bungalows were constructed slightly later having two and three bedrooms respectively.
In addition there are nine brick garages in a block which at the time of going onto the market six are let and three are in use as storage by the landlord. Around three sides of the main mill there is an abundance of parking serving the properties. Beyond the bungalows to the east side of the site lies a triangular piece of disued ground that might well offer further development potential subject to usual consents.
The site is offered for sale as a whole on a freehold basis and extends to approx. 0.9 acres.
We understand all mains services are connected to the site.
Viewing arrangements. Given we have fair notice a range of apartments can be viewed by serious applicants. We would be happy to meet on site for an informal walk round the main external areas by appointment.