2-bedroom flat · PO37 6AL
For saleReduced £25k (−7.1%) on 3 OctListed 158 days
Opportunity summary
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About
**Chain Free** This purpose built first floor apartment forms part of the prestigious and sought after Savoy Court Development which is situated in a delightful cliff-top location.
Savoy Court is a development of 30 apartments and is located just to the East of the very attractive Old Village area of Shanklin and is perched on the cliff-top just above the Esplanade and beach.
Access to the beach is about a 500 yard walk down Chine Hill with the Old Village area being a similar distance and the main shopping area of the town being about 1/2 mile on a level walk.
Opposite the development is access to Keats Green and the cliff path which leads all the way through to Sandown.
This apartment has been renovated throughout to in our opinion a very high standard to include both bathrooms and kitchen.
The deceptively spacious accommodation is well planned and is and offers large entrance hall and two double bedrooms (master en-suite).
A fine additional feature to this apartment is that it has a wrap around balcony that can be accessed from both the kitchen and lounge which enjoys a East and South aspect with stunning sea views and views over the wooded Shanklin Chine.
Outside the apartment has a Garage and there are superb communal gardens and visitor parking is also available. Communal Entrance Hall Stairs to first floor.
Entrance Hall Lounge (6.07m x 3.53m (19'11 x 11'7)) Panoramic Sea Views Kitchen/Diner (3.73m x 3.12m (12'3 x 10'3)) Panoramic Sea Views and door to; Balcony Wrap around Balcony with Sea and Chine Views - South and East aspect.
Bedroom 1 (4.14m x 2.92m (13'7 x 9'7)) En-Suite Bathroom (2.49m x 1.83m (8'2 x 6')) Bedroom 2 (3.23m x 2.95m (10'7 x 9'8)) Shower Room (1.83m x 1.83m (6' x 6')) Outside Communal gardens surround the property with a wide variety of mature trees, shrubs and flower boarders.
Carpark area with visitor parking. This property has the benefit of a garage. Council Tax - Band E Services Mains Electric - Water - Drainage Tenure - Leasehold Leasehold.
Held on the balance of a 999 year lease from June 1986 with no ground rent payable. The Freehold is owned by the Residents Management Company.
We understand the current service charge payable is £150 per month which includes a share of the building insurance premium, managing agent fees and water charges, garden maintenance and upkeep of common parts.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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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FAQ
About 11 Savoy Court, 7 Chine Avenue, Shanklin
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