Newmarket, CB8

A very rare opportunity to purchase a modern freehold residential investment property consisting of four 2 bedroom houses and four 2 bedroom apartments and the potential to build two further 2 bedroom apartments, all situated in the thriving horse racing town of Newmarket. Fully let providing an annual income of £87,420 Potential annual income of £99,600 Further potential after development for an annual income of £121,200 Location Newmarket is renowned as the British Headquarters of horse racing offers an interesting and varied range of local shops and amenities. These include the National Horse Racing Museum, a twice weekly open air market, hotels, restaurants and modern leisure facilities. There is a regular railway service to London’s Kings Cross and Liverpool Street stations via Cambridge. An excellent road network links the region’s principal centres, including the University City of Cambridge and the historic market town of Bury St Edmunds, both approximately 13 miles from Newmarket. DESCRIPTION Sycamore House is a purpose built development of four houses and four apartments, understood to have been constructed in about 2003. All the properties have two bedrooms, however the two 1st floor apartments also have en suite shower rooms to the master bedrooms. The properties are all heated via thermostatically controlled electric radiators and double glazing is fitted throughout. Sycamore House is set within its own grounds with a tarmac drive leading to the residents car parking area and beyond a communal garden. The vendor has also had planning permission granted to further develop the site by constructing two further 1 bedroom units above the apartments. The residential properties are all let on assured shorthold tenancy agreements.   SERVICES Mains electricity, water and drainage are available to the premises. TENANCIES House 1 is let on an assured tenancy currently and has a potential to be £1000pcm.   House 2 is let on an assured tenancy and has a potential to be £1000pcm.   Apartment 3 is let on an assured tenancy and has a potential to be £1050pcm.   Apartment 4 is let on an assured tenancy and has a potential to be £1100pcm.   Apartment 5 is let on an assured tenancy and has a potential to be £1050pcm.   Apartment 6 is let on an assured tenancy and has a potential to be £1100pcm. House 7 is let on an assured tenancy and has a potential to be £1000pcm. House 8 is let on an assured tenancy and has a potential to be £1000pcm. EPC RATINGS The property has multiple EPCs which are as follows House 1: D House 2: D Apartment 3: C Apartment 4: C Apartment 5: C Apartment 6: D House 7: D House 8: D ACCOMODATION All measurements are approximate.   House 1: 64sqm House 2: 64sqm Apartment 3: 68sqm Apartment 4:68sqm Apartment 5: 68sqm Apartment 6: 68sqm House 7: 64sqm House 8: 64sqm Future Development The vendor has obtained planning permission to further extend the apartments by adding two further 1 bedroom units above the existing apartments. The planning reference number is DC/20/0220/FUL Tenure The property is freehold.   The property is not in a conservation area. The property is in a low flood risk area.   Viewing: Strictly by prior arrangement with Pocock + Shaw. PBS