£385,000
Est. Mortgage £1,756 per month*
7 bedroom detached house for sale
Wem, Shrewsbury
detached house 
7 bedrooms Property description
Having been sympathetically renovated and converted, this beautiful former chapel is made up of four thoughtfully designed apartments across two floors, while retaining plenty of character and original features, located within the heart of this popular market town, just a short walk from its excellent range of amenities and train station providing easy access to both Shrewsbury and Crewe. All four apartments are currently let on assured shorthold tenancies, bringing in a rental income of £24,720 per annum.
All 4 flats have mains water, electricity and drainage connected with electric heating
Key Features -
* Flat 1 – private inner hallway, double bedroom and separate shower room, fitted kitchen, open plan living/dining room connecting to a rear courtyard garden. Currently paying £520 PCM with a potential rental income of circa £550 PCM
* Flat 2 – private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room. Current tenant paying £505 PCM with a potential rental income of circa £565 PCM
* Flat 3 - private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room. Current tenant paying £530 PCM with a potential rental income of circa £565 PCM
* Flat 4 - private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room with feature curved wall and multiple windows to rear. Current tenant paying £505 PCM with a potential rental income of circa £565 PCM
* Impressive front door and communal entrance hall with lovely stained-glass windows and access to all apartments
* Restored feature double glazed windows to front and uPVC double glazing to the rear of the building
* Very useful separate bin/bike store for resident’s use , accessed via Market Street
* The current owner has an agreement with the conservative club over the road, allowing each apartment to have its own parking space, which could be transferred to the next buyer
* All four apartments are successfully let on assured shorthold tenancies, currently providing an income of £24,720 per annum and a yield of circa 6.4%. However, most tenants have been long standing, and the individual rents have scope to be increased to be in line with market value, which is likely to produce a potential yield of circa 7%
All 4 flats have mains water, electricity and drainage connected with electric heating
Key Features -
* Flat 1 – private inner hallway, double bedroom and separate shower room, fitted kitchen, open plan living/dining room connecting to a rear courtyard garden. Currently paying £520 PCM with a potential rental income of circa £550 PCM
* Flat 2 – private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room. Current tenant paying £505 PCM with a potential rental income of circa £565 PCM
* Flat 3 - private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room. Current tenant paying £530 PCM with a potential rental income of circa £565 PCM
* Flat 4 - private inner hallway, two bedrooms, separate shower room, fitted kitchen, open plan living/dining room with feature curved wall and multiple windows to rear. Current tenant paying £505 PCM with a potential rental income of circa £565 PCM
* Impressive front door and communal entrance hall with lovely stained-glass windows and access to all apartments
* Restored feature double glazed windows to front and uPVC double glazing to the rear of the building
* Very useful separate bin/bike store for resident’s use , accessed via Market Street
* The current owner has an agreement with the conservative club over the road, allowing each apartment to have its own parking space, which could be transferred to the next buyer
* All four apartments are successfully let on assured shorthold tenancies, currently providing an income of £24,720 per annum and a yield of circa 6.4%. However, most tenants have been long standing, and the individual rents have scope to be increased to be in line with market value, which is likely to produce a potential yield of circa 7%
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First listed
Over a month agoWem, Shrewsbury
Marketed by
Cooper Green Pooks - Shrewsbury 3 Barker Street Shrewsbury SY1 1QFCall agent on 01743 534857
Placebuzz mortgage repayment calculator
Monthly repayment
£1,756
We think you can borrowAdd your household income
Based on a 30 year mortgage, with a 10% deposit and a 4.50% interest rate. These results are estimates and are 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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