Haven Lodge, 62 Clay Lane, Coventry, West Midlands, CV2 4LN

Location

The property occupies prominent and convenient position on Clay Lane, which leads directly off the main A4600 Walsgrave Road. It is well located for easy access to the Ball Hill shopping district. Local shops, schools, bus services and other main amenities are all readily accessible along with Coventry University . The property is situated approximately 0.5 mile east of Coventry City Centre, which can be easily accessed via the A4600. The M6/M69 intersection at Walsgrave Triangle on the eastern outskirts of the city is approximately 1.5 miles to the east and there is Pay and Display public car park immediately adjoining the site.

Description

The property comprises a modern purpose built three storey block of 35 studio apartments , with a track record of near 100% occupancy. The property is entered via a main communal front entrance door affording access to the entrance lobby, apartments, and communal kitchen facilities. The total internal area is 1,014 sq. m ( 10,911 sq. ft.)

PROPERTY FEATURES:

•Self-contained studios

•Electric gated car parking to the rear

•Smart video intercom system to each room

•Smart fob operated doors

•Smart heating controls

•Fully furnished rooms with kitchenettes (incorporating microwave & fridge freezer)

•Communal kitchens to each floor

Accommodation

Ground Floor – Entrance lobby, communal kitchen, 11 studios
First Floor - Communal kitchen, 11 studios
Second Floor – Two communal kitchens, 11 studios
Third Floor – Plant room, two studios
External – Electric gated access to rear car park ( 11 allocated spaces)

Price

Offers in the region of £3,950,000 are sought for the Freehold interest.

Tenancy

The property is fully let, producing a total income of £281,220 per annum from a combination of professional and student lets. A full break down of the rental income is available upon request.

VAT

VAT is not payable in this case on the purchase price.

Business Rates

The individual studios within this development are all designated Band A for Council Tax purposes.

Services

Mains, Water, Drainage, and Electricity are understood to be connected. No tests have been applied.

EPC

B Rating - Available upon request.

Anti Money Laundering

In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.