Lizard Walk, Southway, Plymouth

Property features

• Spacious 3 - Bed Maisonette
• Ideal First-Time Buy or Investment
• Potential Rental: Aprox. Gross Yield: 11.4% Aprox. Net Yield: 10.04%
• Close Proximity to Derriford Hospital & Business Park
• Open-Plan Living/Dining Area
• EPC: D
• Ground Rent: £10 per annum
• Tenure: Leasehold
• Service Charge: £1,300 - £1,400 per annum
• Onward Chain: Onward Chain TBC

Summary

Spacious 3-bed maisonette in Southway, close to shops, Derriford Hospital, and a business park. Potential rental income of approx. £950 pcm, yielding Aprox. gross 11.4%. Ground floor living/dining area, fitted kitchen, and balcony access from a bedroom. Includes communal courtyard, storage shed, and an 89-year lease.

Details

OFFERS IN EXCESS OF £100,000 An appealing investment or first-time buyer opportunity, this spacious three-bedroom maisonette in Southway is well-positioned for access to local shops, amenities, Derriford Hospital, and the nearby business park-ideal for both tenants and owner-occupiers alike.

Investment Potential:

Once modernised, this property has the potential to achieve a rental income of approximately £950 per calendar month, offering an attractive yield of approx. gross11.4% based on the guide price.

Property Layout:

Accessed via a communal courtyard, the main entrance opens into a hallway with stairs to the first floor and a doorway into the living room/diner. The ground floor features a generously sized open-plan living and dining area, flowing into a kitchen fitted with a range of base units, work surfaces, and wall-mounted cabinets, with ample space for appliances.

Upstairs, the property includes three well-proportioned bedrooms, with the third bedroom offering access to a shared balcony overlooking the communal courtyard. The main bathroom comprises a WC, wash hand basin, and bath.

Outside Space:

The property includes a shared communal courtyard and benefits from a private allocated shed within a block for added storage.

Lease Details:

Service/Maintenance Charge: £1,300 - £1,400 per annum, covering weekly courtyard cleaning, monthly weeding, bin management, stairwell and balcony maintenance, and window cleaning.
Remaining Lease Length: 89 years.
Shared Costs: Any planned building work is consulted on with residents, with costs equally shared.
With spacious accommodation throughout, this maisonette represents an attractive buy-to-let investment or a comfortable first-time buy. Contact us now to arrange a viewing or for more details.

Managing Company:

Plymouth Community Homes - A trusted local organisation providing comprehensive property management services, including maintenance of communal areas, landscaping, and resident support, ensuring a well-maintained and welcoming environment for all residents.

PLYMOUTH, Britain's Ocean City, is one of Europe's most vibrant waterfront cities. Located by a stunning waterfront and harbour, Plymouth is the perfect place to buy property.

STAMP DUTY LAND TAX or Land and Buildings Transaction Tax may also apply in some circumstances.
For more info please visit:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

WE ANTICIPATE HIGH DEMAND for this property and advise early viewings to avoid disappointment. All applicants will be subject to a rigorous registration/ financial verification process. Viewings will be booked by appointment only, and are subject to availability. For more information, please call 01752 875075.

Floor Plans