1 bedroom Flat For Sale

THE PROPERTY: Situated in the charming Conservation Area of Faringdon, this purpose-built ground floor maisonette presents a superb investment opportunity for cash buyers. The well-designed accommodation features an L-shaped living room leading to a separate kitchen. An inner lobby provides access to a practical airing cupboard, modern bathroom, and a generously proportioned double bedroom complete with built-in wardrobes for ample storage. Importantly in such a central location, the property benefits from a nearby allocated parking bay (marked No.5). With a current rental value of £675 pcm, this property promises an impressive gross yield of 7% ! The property has been successfully let for many years and is fully compliant with all necessary certifications, including an up-to-date EICR. Savvy investors will appreciate the efficient electric heating system, eliminating the requirement for costly annual gas safety certificates. With an EPC rating of 'C', this property is already future-proofed against anticipated legislative changes requiring rental properties to meet higher energy efficiency standards. The maisonette has approximately 59 years remaining on a 99-year lease (from 11th July 1985). While this shorter lease term restricts the property to cash buyers only, it represents a shrewd purchase that may significantly benefit from the forthcoming Leasehold and Freehold Reform Act 2024. This legislation is expected to make lease extensions substantially more affordable and straightforward for leaseholders. Early viewings are strongly recommended to avoid disappointment, as investment properties of this calibre and yield potential rarely remain available for long in this picturesque Conservation Area. Please note: We are seeking details of the property's outgoings and advise purchasers to seek independent legal advice regarding lease extension options and the implications of the Leasehold and Freehold Reform Act 2024. Vale of White Horse District Council (Tax Band B)