Prospect Apartment Lifestyle: This fully refurbished two bedroom, first floor apartment is located within a popular development, located within an established tree lined road to the West of Reading town centre. The accommodation comprises a living room, refitted kitchen, two double bedrooms and a refitted bathroom suite. Further benefits include a renewed lease and residents parking. The property is within walking distance of the town centre and Reading West train station and within easy driving distance of the M4 motorway. The property is expected to achieve £850pcm which offers a 7.29% yield. The property is offered to the market with onward chain complications.

Leave Reading town centre via Castle Hill, at the traffic lights turn right onto Tilehurst Road, proceed along over the mini roundabout and turn left into Southcote Road.

Josephine Court can be found a short distance on the right hand side.

Communal Entrance Hall
Approached via communal front door and stair access to all floors.

First Floor
Entrance Hall
Approached via personal front door with doors to all rooms.

Living Room
17'1" x 13'8" - Rear aspect floor to ceiling double glazed window, storage heater and TV point.

Kitchen
9'11" x 9'1" - Refitted with a range of eye and base level units with rolled edge work surfaces, inset sink unit with mixer tap, space and plumbing for all appliances, built-in larder cupboard, part tiled walls and tiled flooring.

Bedroom One
14'5" x 12'5" - Front aspect double glazed window and storage heater.

Bedroom Two 
10'9" x 7'2" - Front aspect double glazed window and storage heater.

Bathroom
Refitted three piece suite comprising low level WC, panel enclosed bath with electric shower, pedestal wash hand basin, tiled flooring and part tiled walls.

OUTSIDE
Communal Gardens
Lawn areas surrounding the property.

Parking
Residents parking bays.

Leasehold Information
We have been advised by the current owner that there are 99 years remaining on the lease, there is as service charge of £80.00 per month and a ground rent charge of £150.00 per annum.

The Investment: 

Net purchase price: £140,000
Market Rent:  £850
Yield: 7.29%

Mortgage: £105,000

Based on 25% over 25 years @ 4.99%:

Monthly Re-payment: £613
Monthly Inv Positive Income: £236.79

Monthly Interest Only: £613
Monthly Inv Positive Income: £413.38