ONE BEDROOM TOP FLOOR FLAT SOLD WITH TENANT IN SITUATION AND A FRESH 125 YEAR LEASE!

Miles and Barr are delighted to present this one bedroom top floor flat situated within a short walk to local amenities and Margate's Old Town. Internally the property comprises of an entrance hallway, double bedroom, Lounge and bathroom. The current tenant is paying £500 PCM (with scope to potentially increase to £550 PCM). There are no rent arrears and tenants have been in-situ since Oct 2019, making this a turn-key investment with potential to boost yield further. Ground rent is £125 p.a. with no service charge. Further to this, there is an opportunity to purchase the freehold for the building for £12,000 (4 leaseholds with ground rent of £125 p.a.).

Room Sizes
Lounge 4.01m x 3.56m (13'2 x 11'8)
Bedroom 4.01m x 2.26m (13'2 x 7'5)
Bathroom 2.57m x 2.46m (8'5 x 8'1)

Margate Area Guide

Margate – Shoreditch-on-sea Investment into Margate over the last five years has seen the town undergo a complete revival and it is continually on the up. Many have begun referring to it as Shoreditch on sea for its hip independent stores. Margate has a thriving culture with new cafés, restaurants and a good mix of independent and chain shops continuing to