Flat for sale in Corve Street, Ludlow SY8

Spacious, character, Grade ll Listed, two double bedroom, period conversion in the centre of the bustling historic market town of Ludlow. Ideal for first time buyers or for investors as a holiday let.

The wide and gently sloping Corve Street is lined with Georgian period facades which step up the hill from the River Teme towards the historic town centre, many of the facades conceal much earlier period origins, some of which are Tudor or earlier. The highly photogenic Feathers Hotel towards the town centre has a heavily beamed exterior. Much of the period nature of the street is encapsulated in this character two bedroomed apartment, to the front of the property are Georgian sash windows with narrow glazing bars, the period features are complimented by a fitted kitchen fitted with new appliances and recent redecoration throughout. It is the very period character of the property that we believe holidaying visitors to the town are seeking and that this would make an excellent holiday let.

The thriving Medieval market town has, at its centre, a castle which dates from the 11th Century and together with the nearby Assembly Rooms form the venues for many of the town’s festivities and theatrical productions, some of which are supported by celebrities that have made Ludlow their home. The annual Food Festival is a big draw to the town and is a demonstration of the quality food produce of the area, much of which regularly features in the markets held in the Castle Square, it is no surprise that the town at one time had the distinction of the most Michelin Stars of any town outside of London with chefs such as Shaun Hill, Will Holland and brothers Cedric Bosi of The Charlton Arms and Claude Bosi, now of Bibendum in The Royal Borough of Kensington. The Shropshire Star newspaper recently recognised Mortimers Restaurant, opposite, as one of the best in the town.

Hallway (4.64m x 1.97m (15'2" x 6'5"))

The entrance hall way leads from the communal stairs and landing. A generously proportioned entrance hallway that could easily accommodate an office work space or bicycle storage. This space is laid with carpet, is lit with spotlights and leads up 3 steps to the lounge-kitchen-diner and down one step to the rest of the flat. Electrical power sockets.

Kitchen/Dining/Living Room (4.6m x 4.74m (15'1" x 15'6"))

A bright and spacious room with georgian pane sash window to front and fitted with an attractive range of light wood effect floor and wall mounted cabinetry with built under electric oven, four ring electric hob with extractor canopy hood over, the breakfast bar has an inset stainless steel sink and mixer tap, plumbing for automatic washing machine, power points.

Bedroom 1 (3.39m x 3.14 (11'1" x 10'3"))

Located at the front of the property on the right, the master bedroom is a good-sized double with space for free-standing furniture. The room is bright, having a large secondary-glazed window overlooking the road at the front. There is a radiator, drop ceiling light and electrical power sockets.

Bedroom 2 (2.93m x 2.72m (9'7" x 8'11"))

A second room which would comfortably accommodate a double bed, this room makes the property an ideal let for two sharing professionals, as-well as a family or couple. The space has a drop ceiling light, radiator, secondary glazed window and electrical sockets. The accommodation could sleep four adults or a family with children for the purposes of either rental or holiday letting

Bathroom

The bathroom features a white suite with a mains mixer shower over the bath, pedestal sink with taps, w.c. With macerator, and extractor fan. The coordinated tiles are white and the floor is laid to vinyl, central heating radiator.

Ebor Mews

The property is accessed via Ebor Mews, a private and pretty alley which runs from the gated access beside Ludlow Ink and runs parallel to Streatley Mews.

Tenure

The Property is Leasehold with a 99 year lease granted 1st January 2012. The lease provides for the possibility of both residential letting and holiday lets

Service Charge

Equivalent to 15% of costs

Ground Rent

The initial Rent of £75 per annum for first 25 years, £150 per annum for the next 25 years, £225 per annum for the next 25 years and £300 per annum for the remaining period.

Local Authority

Shropshire. The property is in Council Tax Band A which during Council Tax charge year 2023/2024 equates to £1,489.07 payable.

Letting

The current owners have previously successfully let both this apartment and 1b next door, both of which are now available with vacant possession. This flat and it's neighbour would make a great buy-to-let rental, or fabulous holiday let option. The 2 units are currently independent of each other, but subject to permission, could be joined with a Jack-and Jill door, allowing for greater flexibility and wider marketing appeal.
The lease has provision for holiday letting, and enquiries with Sykes indicate a gross return of £18,000 or more per unit. We would market this flat for rental at £700 pcm.