An rare investment opportunity situated on the edge of Dunnington comprising a number of rental and holiday cottage units with huge potential post Covid to improve the annual turnover.
Foreword - An outstanding opportunity for property investors to acquire Primrose Lodge which has been separated and developed over many years, creating a substantial yearly turnover with huge potential post Covid for rental improvement. The property is currently separated into seven lettable units including an owner-occupied office.
The property is perfectly set up for holiday accommodation although at present with Covid restrictions the properties are let on monthly rental agreements. As at April 2024 the annual turnover is £83,000 gross and it is the opinion of the writer that there is potential for this to be improved further.
House - The accommodation within the house includes three bedrooms and is currently let on an assured shorthold tenancy with a passing rent of £2,025 per calendar month inclusive of all bills.
The Bungalow - The Bungalow offers two bedroom living accommodation and is currently let on an assured shorthold tenancy with a passing rent of £1,115 per calendar month inclusive of bills.
Room 1 - Room One is a studio flat currently let on a monthly agreement with a passing rent of £840 inclusive of bills.
Room 2 & 3 - Units 2 and 3 are combined under a single tenancy with a passing rent of £995 per calendar month inclusive of bills.
Room 4 - Unit 4 is a one bedroom holiday cottage, currently let on a monthly rent of £995 per calendar month inclusive of bills.
Room 5 - Room 5 is a one bedroom holiday cottage, currently let for £995 per calendar month inclusive of bills.
Office - The vendors of this property currently occupy a ground floor self-contained unit which has potential to be converted into a one or two bedroom holiday cottage.
To The Outside - The property is situated directly off Hull Road on the edge of Dunnington, offering quick and easy access to the both the city centre of York and as well as the A64 York to Leeds Road. There is a charming front lawned garden which has been meticulously maintained and presented.
There is off street parking for numerous motor vehicles in addition to a detached double garage block again offering an opportunity for a monthly or yearly income.
There is hardstanding and communal gardens giving the tenants the opportunity for outside relaxation and entertaining and this opportunity is being offered for sale with no onward sale.
Agents Note - Further details of the outgoings and individual tenancy agreements are available via request from the selling agent.
