A rare chance to acquire a former large Welshpool town house, converted into six self-contained flats producing an annual income of £25,000, has come on to the market.
Montgomery House, Salop Road has been a residential property, bed and breakfast, offices and most recently converted into apartments.
Estate agents and chartered surveyors, Morris, Marshall and Poole with Norman Lloyd, have been appointed to market the property.
“Properties such as this don’t come on to the market that often in Welshpool,” said Rob Hudson, a partner at MMP/NL. “Montgomery House has been converted into six well-appointed self-contained apartments providing a rental income of around £25,000 a year, making it a good investment opportunity based on the return.”
The freehold property is split into two two-bedroom apartments and four one-bedroom apartments, providing a good mix of rental accommodation close to the town centre.
“Property is a good investment and Montgomery House offers a good return on that for the right investor,” added Mr Hudson.
“There is demand for rented apartments in the town and management of these can also be undertaken by MMP/NL should the new owner wish, ensuring day-to-day and tenancy issues are dealt with efficiently.”
The property is on the market for £375,000. It includes a front roadside yard area and rear garden.
More details can be obtained by contacting Morris, Marshall and Poole with Norman Lloyd on 01938 554818 or by visiting www.morrismarshall.co.uk.