FOR SALE BY ONLINE AUCTION WEDNESDAY 26TH MARCH 2025 AT 9AM - ***EXCEPTIONAL INVESTMENT OPPORTUNITY: SIX RESIDENTIAL FLATS AT 20 WEST PRINCES STREET***THE PROPERTY IS IDEALLY SITUATED TO OFFER BOTH CONVENIENCE AND THE SERENE CHARM OF ISLAND LIVING***HIGH YIELDING INVESTMENT OF 11.8% PER ANNUM BASED ON GUIDE PRICE***
***PROPERTY HIGHLIGHTS***
*Versatile Layout* - The building comprises six individual flats, each thoughtfully designed to cater to a variety of tenant needs, from singles to small families.
*Prime Location* - Located on West Princes Street, residents are within easy walking distance of Rothesay's vibrant town centre, offering a range of amenities including shops, cafes, and cultural attractions.
*Scenic Surroundings* - Rothesay is renowned for its stunning coastal views and historic sites, providing residents with ample recreational opportunities and a high quality of life.
*Strong Rental Demand* - The Isle of Bute has a consistent demand for rental properties, making this an attractive investment for those seeking steady rental income.
*Investment Potential* - The property's configuration into six flats allows for multiple income streams, enhancing its appeal to investors. The ongoing demand for residential rentals in Rothesay, coupled with the property's prime location, suggests a promising return on investment.
Current rental total income of consists of four flats each producing a monthly rental income of £500 each, one flat producing £550 monthly rental income, and another flat producing £600 monthly rental income. The total rental income for all six flats of £3,150 per month (producing a high yield of 11.8% per annum based on guide price)
***LOCAL AMENITIES AND TRANSPORT***
Connectivity: Rothesay is well-connected via ferry services to the mainland, facilitating easy commutes for residents and visitors alike.
Community Facilities: The town boasts a variety of amenities, including schools, healthcare facilities, and leisure centres, contributing to its reputation as a desirable place to live.
***RECENT NEARBY RESIDENTIAL PROPERTY SALES***
- 9 Craigmore Road, Rothesay, Isle Of Bute, PA20 9LB - SOLD Dec'24 - £385,000
- 37 Gracefield, Crichton Road, Rothesay, Isle Of Bute, PA20 9JT - SOLD Dec'24 - £326,000
Situated on the Isle of Bute, in the Firth of Clyde off the West Coast of Scotland. Bute is an area of outstanding natural beauty and is the most accessible of all the Scottish Islands. There are two regular ferry services to the island from Wemyss Bay, near to Glasgow and from Colintraive on the Argyll peninsula. Bute can be an activity based experience if you desire. Diving, walking, swimming, cycling, fishing, shooting, sailing and golf are amongst the activities on offer. It has also seen an explosion of quirky eateries, including an American diner with live entertainment, an authentic Italian, a French Moroccan bistro as well as traditional Inns offering Scottish fare.
The island has also seen a wealth of new niche businesses in recent years. Bute hosts many festivals through out the year such as the highland games, jazz festival, Bute Noir book festival, LGBT pride march, classic car rallies and Bute Song to name a few. Bute has seen a surge in recent years of folks looking for a lifestyle change by relocating to the Island and travelling to the mainland for work. Excellent broadband access also means working from home on the Island is possible.
GUIDE PRICE - £320,000
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Purchases are subject to a Buyer’s Premium. There may also be additional fees on certain properties. Please refer to the Articles of Roup / Special Conditions in the Legal pack to confirm.
EXCEPTIONAL INVESTMENT OPPORTUNITY: SIX RESIDENTIAL FLATS AT 20 WEST PRINCES STREET
THE PROPERTY IS IDEALLY SITUATED TO OFFER BOTH CONVENIENCE AND THE SERENE CHARM OF ISLAND LIVING
HIGH YIELDING INVESTMENT OF 11.8% PER ANNUM BASED ON GUIDE PRICE
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
