7 bedroom for sale in 18 Penrallt St, Machynlleth, Powys, SY20 8AJ - UK Property Search 
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Paris House is a large traditional stone built period property, located in the historical market town of Machynlleth, the former ancient capitol of Wales and the home of The Centre of Alternative Technology. This is a substantial property comprising of 6 self contained flats 1 lock up shop and yard
Property Details:Paris House is a large traditional stone built period property, located in the historical market town of Machynlleth, the former ancient capitol of Wales. This area of Mid Wales is renowned for its beautiful countryside, being a walkers and cyclist paradise and is just half an hours drive to the stunning Cambrian Coast. This former double fronted Victorian building, was converted into a shop, flats & studio apartments a number of years ago and has recently had the two bed units refurbished. The four studio apartments were decorated and recarpeted just 12 months,and could easily be converted intoone bed units, by placing the kitchens into the large lounges. The hallway has alsorecently been redecorated.
The current ownerwill beshortly upgrading the fire protection to currentregulations. The property is in good condition throughout, with a new roof fitted only afew yearsago. The feature wooden sash windows weresll recently replaced at the front and side of the building . The property has a huge yard at the rearwith parking for several cars and is situated a stones throw from the railway station and the new Tesco superstore site which will be built shortly.These plans willcertainly enhance the property values in Machynlleth. The town center has a good selection of shops and an excellent Wednesday market. There are Hotels, Pubs, a Hospital and Supermarkets on the doorstepas wll as being the home of the world renowned Centre of Alternative Technology. Machynlleth is a town on the up! Powys Council is currently investingin improvements in the area. With tourism, the Eco Park and Center for Alternative Technology there are good job prospect in the town and hence decent tenants. There is a serious shortage of rental accommodation and the current owner has had no problem finding suitable tenants. This is a solid property with scope for further value to be added without too much difficulty.
Without doubt this is an excellent investment opportunity providing an excellent 8.2% yield.SHOP let on a 5 year lease from 01/12/2007 with a rent review on 01/12/2010 current rental £10,000 PA. Floor space & income breakdown: Flat No/sq.m. No. Beds Current rental Potential rental if studios areturned in 1 bedsFlat 1 - 27 sq.m.studio£260£346Flat 2 - 31 sq.m.studio£346£368Flat 3 - 60 sq.m.2 Bed£435£435Flat 4 - 27 sq.m.studio£300£368Flat 5 - 36 sq.m.studio£300£368Flat 6 - 52 sq.m. 2 Bed£410£410Total Income for flats £2064£2290Total income for shop 67.5 sq.m.(730 sq ft.) £833£833TOTAL MONTHLY INCOME pcm.£2897£3123 TOTAL INCOME per annum£34,764£37,476 Current % Yield on Purchase Price£420K8.2%
Property available from: Lounge Lettings One World Properties
Branch Address: Aprt 2, 2 Marine Parade, Tywyn, Gwynedd, Wales, LL36 0DE
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For more information about this property please phone: 0800 195 0245 quoting UKPS 123249 - property 18 Penrallt St
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Machynlleth Property | Powys Property
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