7 Bedroom Detached House

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £360,000 Auction End Date is 30th September at 2.00pm

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

Representing a rare and exciting opportunity for those seeking a family home combined with an established income-generating business, this spacious detached property incorporates a separate three bedroom home and four fully self-contained one-bedroom studio units, each offering excellent privacy and independent access.

The four studios are arranged to provide a bedroom/living area, kitchenette and ensuite bathroom, with each unit benefiting from its own separate entrance and being completely private from both the other studios and the main residence. Based on 50 weeks' rental income, the studios offer a potential gross rental income of approximately £44,000 per annum, with actual income dependent upon occupancy.

The main residence provides comfortable and well-proportioned accommodation and offers the ideal opportunity for an owner to live on site while managing the business, although the property could equally be considered as a wider investment opportunity. The accommodation comprises an entrance hall, spacious living room, kitchen open plan to a dining room with a useful utility room off, while to the first floor are three generous bedrooms, including a principal bedroom with ensuite bathroom and a large dressing area, together with a further family bathroom.

Externally, the property benefits from a large block-paved driveway providing parking for multiple vehicles, together with a generous, low-maintenance rear garden. Further benefits include gas central heating and UPVC double glazing.

The main house could also potentially generate rental income of around £12,000 per annum, giving a combined potential gross rental income in excess of £65,000 per annum when fully occupied. The property is being offered for sale due to the current owners' retirement, providing a particularly interesting opportunity for an incoming purchaser to continue the existing business model, subject to their own requirements and any necessary consents. Income multiples and returns will naturally be dependent upon occupancy levels.

Situated within a popular residential location in Newark, the property combines substantial living accommodation with an attractive income-producing opportunity and is likely to appeal to investors, owner-occupiers looking for a live/work arrangement, or those seeking an established business opportunity with significant further potential.

The Interactive Property Report can be viewed on the following web portals, UNDER THE VIRTUAL TOUR TAB on Rightmove, Zoopla, and On The Market. FURTHER MATERIAL INFORMATION FOR THIS PROPERTY can be found within the report and includes a wealth of material including information on - Title Plan and Plot, Maps, House Price Statistics, Flood Risk, Media Availability, In depth Local School Information, Transport Links, etc.