We are delighted to be facilitating the sale of this superb property. London Mews is in a very attractive development, not far from York’s city centre and with an array of local amenities. The property was built in 2018 by CHR Developments Group, previously the site was occupied by a traditional store selling toys, stationary and the like, the store was opened by Frederick London and that is where the name of the building has originated from.
As a standard BTL proposition, based on 75% LTV with a 4% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow is £259 per month and the Gross Yield is 6.15%. When coupled with the strong growth rates seen in York this makes for an appealing medium to long term investment proposition.
The property is a one bedroom apartment located on the ground floor of the building, fronting Mill Lane with an Eastern aspect and large windows allowing for lots of natural daylight to flood the space. Across from the property is the side of a cafe and a short walk away on East Parade is a further row of useful convenience stores and takeaways, suitably positioned for guests or tenants.
In the other direction you will arrive at on the Eastern side of the city centre where there is a selection of supermarkets and stores. The city centre is approximately a 10 minute walk from the property.
Inside the property there is an entrance hallway from which all rooms are located off, the utilities cupboard houses a washer dryer, the hot water tank, fuse board and provides some storage space.
The open plan kitchen living space is perfectly spaced for zoning of the different areas with space for the dining area in the feature bay window. In the kitchen there is a fan oven, electric hob, recirculating extraction hood, single bowl sink, fridge freezer, slimline dishwasher and basic equipment such as kettle, toaster, cutlery and crockery.
The property is being sold fully furnished which includes sofa bed, dining table and stools, lockable side board, large and small appliances – ideal if you are looking for your first or next serviced accommodation unit!
The double bedroom has lovely feature coving and bay window, the room is furnished with double bed, occasional chair, bedside tables, chest of drawers and hanging space.
The shower room is attractive with earthy toned tiles and contrasting white ceiling and sanitary ware. It features a rainwater shower and handheld attachment, large shower cubicle, basin with recessed shelf above, chrome heated towel rail and toilet.
Externally the grounds are well maintained and there are communal bin and bike stores, and car charging point. There is not an allocated space for the property, however, there is on street parking without restrictions a short walk away.
The apartment is supplied with electric only.
There is no gas at the property.
The property is leasehold and there are 993 years remaining on the lease (the original lease commenced on 1st February 2018 and was for 999 years). There is an annual ground rent charge of £100 and an annual service charge of £1,103.
The property is in excellent condition and we do not feel that any work is required in order to maximise returns.
More Information
To receive our comprehensive brochure please register on our exclusive buyers database here. If you have already registered, please contract Jamie Maguire, our York Agent, who will gladly email the brochure to you.
Agent: Jamie Maguire
jamie.maguire@realm47.com
01904 946889
