An unusual opportunity to purchase a freehold (title to be split) investment/development opportunity, which is currently part of a hotel. With eight bedrooms (four doubles, four singles), all with either en-suite bathrooms or shower-rooms, the property is currently heated via a communal gas boiler and will have it's own electricity metre. The single rooms are circa 55 per night and the doubles 65, however the room could benefit from refurbishment and with concentrated marketing could achieve more. The property could also been converted into an HMO, or apartments. There is the potential to negotiate with the owner about parking spaces on a purchased or permit basis. Positioned close to the town centre and railway station/bus station, this could be a lucrative investment for a seasoned investor. No chain.
The Est. Mortgage is for a 25 years repayment mortgage based on a 10% deposit and a 5.5% annual interest. It is only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
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