Property Details

 
Duke Of Montrose Apartments, 118 High Street & 8 Hume Street, Montrose, Angus, DD10 8JE
 
Guide Price £650,000
 
 

Features

  • Outstanding Investment Opportunity
  • 17 Apartments in two Adjoining Buildings
  • Offered for Sale as a Whole
  • Gross rent about £78,000 per annum
  • Situated in a Prominent Position in the Centre of Montrose
Recently Sold
 
HIGH QUALITY RESIDENTIAL INVESTMENT PORTFOLIO

17 APARTMENTS IN TWO ADJOINING BUILDINGS
This Grade C listed building is arranged over the upper three floors of a substantial stone and slate building that occupies a prominent position in the centre of Montrose.

There are two separate ground floor accesses, one from the High Street and one from Hume Street. Believed to have been built in 1892, the building was originally the Central Hotel. The ground floor has a number of retail premises all in separate ownership.

The Investment Opportunity comprises 17 apartments which are a mixture of 1 and 2 bedrooms.

There are 6 apartments within 118 High Street. These are accessed by a most attractive well maintained and well decorated wide staircase with 2 apartments on each floor. There is a fully enclosed spacious bin storage area on the ground floor.

There are 11 apartments within 8 Hume Street which are also accessed by a well maintained staircase. There are 4 apartments on both the first and second floors and 3 apartments on the third floor. There is a spacious enclosed bin storage area on the ground floor.

All the apartments have modern kitchens and bathrooms and have been regularly decorated. They have electric panel heaters with hot water from immersion heaters.

The apartments have consistently been almost full let, with one apartment let out on a holiday let basis, through Airbnb. The landlord has operated a strict policy for accepting tenants with full due diligence carried out before approval. The apartments are let on Short Assured Tenancy Agreements and are considered to be let at market rent.
 
Whilst every effort is made to ensure the accuracy of these details, it should be noted that the measurements are approximate only. Floorplans are for representation purposes only and prepared according to the RICS Code of Measuring Practice by our floorplan provider. Therefore, the layout of doors, windows and rooms are approximate and should be regarded as such by any prospective purchaser. Any internal photographs are intended as a guide only and it should not be assumed that any of the furniture/fittings are included in any sale. Where shown, details of lease, ground rent and service charge are provided by the vendor and their accuracy cannot be guaranteed, as the information may not have been verified and further checks should be made either through your solicitor/conveyance. Where appliances, including central heating, are mentioned, it cannot be assumed that they are in working order, as they have not been tested. Please also note that wiring, plumbing and drains have not been checked.