2-bedroom flat · PO39 0AH
Sold STCListed 224 days
Opportunity summary
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About
A chain free, extensively modernised character two bedroomed ground floor flat with parking and own garden located in Totland Bay and within couple of minutes walk of seafront.
Having undergone extensive renovation and modernising in recent times by the current owner, this stylish two bedroom ground floor flat offers a large living room, a modern kitchen/dining room, two double bedrooms with one ensuite bath and shower room ,a second shower room and a rear conservatory/utility.
The accommodation is circa 100sq metres and is ideal as a permanent home or holiday home as desired.
Moving outside there is allocated parking to the front on a gravelled drive and access down the side to main entrance and to your own private landscaped garden with its access to and from conservatory on the rear too.
Location - Colwell Road is within a minutes walk of Colwell Common and 5-6 minutes to the seafront at Colwell Bay.
This area of Colwell Road is predominantly character houses with a number having been updated or extended over recent years and is also within 5-6 minutes walk from the main shopping centre in Freshwater Village.
There are nearby bus links across the Island and the nearest ferry terminal is located within a 10 minute drive at Yarmouth, with regular crossings to and from mainland UK via Lymington.
Open Porch - A double glazed open porch entrance into: Kitchen/Dining Room - 4.935 x 3.840 (16'2" x 12'7") - A light and airy space with a good range of modern kitchen units and integral appliances including an induction hob with cooker hood over and a oven/grill.
There is space for an upright fridge/freezer and ample room for a table and chairs. Doors off to: Living Room - 4.340 x 4.230 plus open bay.
(14'2" x 13'10" plus - A spacious and airy living space with open bay to the front and a recently fitted feature fireplace providing a focal point and in keeping with the age of the property.
Inner Lobby Room - Having the benefit of modern daylight lighting recently installed in the inner lobby area and the reconfigured space by the current owner, there is room for a computer/office area if desired.
Doors off to: Bedroom One - 4.70 x 2.85 (15'5" x 9'4") - A double bedroom with window to the side and access to "Jack and Jill" bath and shower room.
Bath And Shower Room - 3.065 x 2.506 (10'0" x 8'2") - A well appointed room with a bath and a separate shower, a WC, and a wash hand basin.
There are three obscure windows to the side and there is a second door to and from the hall providing dual access as desired.
Bedroom Two - 4.750 x 2.895 (15'7" x 9'5") - Another good sized double bedroom with window to the rear plus access to: Shower Room - 2.260 x 1.480 (7'4" x 4'10") - Comprising a shower, a WC and wash hand basin with window to side aspect.
Conservatory/Utility Area - A really useful space currently used as a utility area with door to rear private garden.
Outside - To the front there is allocated parking on a gravelled drive for one car with shared access with upper Flat down the side to two separate gardens, one for Flat A and one for Flat B.
Flat B' is accessed from the front by the parking area so no shared entrance hall.
The rear garden is a really good size and has been cleverly landscaped and is enclosed by close board fencing all created by current owner offering a sunny space for any new owner to enjoy.
There is a garden shed and patio areas with planted borders and shrubs and a small tree. There is access to rear conservatory from the garden too.
Additional Information - The current owner has transformed the old flat to a spacious, tasteful and desirable home with extensive improvements including rewiring and installation of modern consumer unit, plumbing works, new floor joists and some floorboards replaced ,a newly fitted kitchen, upgraded pipes and radiators added, two new bathrooms, a new fireplace, some repointing works, extensive garden landscaping and fencing etc etc.
Tenure - Leasehold Remainder of 999 Year Lease from 21st November 1983 Maintenance charge will be £90 per month, (£1080 pa) Ground Rent is £25 Per Annum Council Tax Band - B Epc Rating - D Viewing - Strictly by arrangement only via Spence Willard in Freshwater.
IMPORTANT NOTICE 1. Particulars: These particulars are not an offer or contract, nor part of one.
You should not rely on statements by Spence Willard in the particulars or by word of mouth or in writing ("information") as being factually accurate about the property, its condition or its value.
Neither Spence Willard nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s).
2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3.
Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained.
A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4.
VAT: The VAT position relating to the property may change without notice.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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