A great investment opportunity to purchase a pair of 1 bedroom apartments situated in the heart of Launceston Town with tenants in situ. These Grade II listed properties were converted a few years ago and are well presented with double glazed windows and electric heating whilst offering good access to the town and its many amenities.
The properties are currently managed by a local agent and we understand this arrangement could continue to provide a ready made investment property for a new buyer. Both apartments are 1 bedroom with the ground floor property being the larger of the two with a shared entrance alley.
The current managing agent has informed us that the ground floor flat is let at £460 pcm and the studio flat let at £435 pcm minus agents fees. Based on the asking price this offers a potential rental yield of 7.4%.
Launceston is an ancient town steeped in History with the imposing Launceston Castle overlooking the town and surrounding area. Referred to as 'the gateway to Cornwall' Launceston is centred one mile (1.6 km) West of the River Tamar, which constitutes almost the entire border between the Cornish peninsular and Devon, the A30 is ideally located on the fringe of Launceston connecting to the rest of Cornwall with great access to the beautiful Coastline whilst providing great access to Plymouth and Exeter and beyond. The town itself offers a variety of individual businesses from boutiques to fine food shops, blending with occasional national outlets including Tesco’s, WH Smith and Costa’s coffee. Local facilities include a leisure centre, medical facilities and well regarded primary and secondary schooling.
Did you know?
The very impressive Launceston Castle dates from Norman times. Before the 13th century AD Launceston used to be the capital of the Earldom of Cornwall. Launceston has given its name to other places in the world including Australia. The Cornish name is Lannstefan and Lannstefan is Cornish for Church of St Stephen.