Corve Street, Ludlow
Property Features
- 2 Bedroom Character Apartment
- Large Open Plan Living Space
- Central Ludlow Location
- First Time on Open Market
- Holiday Let Allowed
- Excellent buy-to-let opportunity
- Original Features
- Undergoing updating Throughout
- No Forward Chain
- No Service Charge
Property Summary
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, arranged over two floors, it features exposed beamed ceilings and walls, exposed stone and brickwork, and a character staircase, yet 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
Full Details
Introduction
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 the flat, as being one of the best in the town.
Communal Entrance
Entered via a door off the pretty Ebor Mews, the period wall panelling in the communal entrance sets the scene and character
Living-kitchen-diner 5m x 3.26m (16'4" x 10'8")
From the communal landing shared with Flat 1a, the apartment opens into a large bright and roomy living space. Steps lead down past the shower room and into the characterful room which features original floorboards currently laid to vinyl, a range of ceiling lights, two original leaded windows looking out over the rooftops and two large radiators. At the far end is the L-shaped shaker-style kitchenette, with new oven and hob and space for washing machine and fridge-freezer.
On the left, the original, quirky stairway leads up to the second floor landing, which has storage over accessed from bedroom 2, and access to both bedrooms.
Shower Room
The shower room is equipped with a white suite of toilet, wash-hand basin and shower in cubicle with curtain. The room has an obscure glazed window and extractor fan. The white door provides access to eaves storage and the gas fired central heating boiler.
Bedroom 1 4.83m x 4.65m (15'10" x 15'3")
This is a wonderfully impressive room, full of charm and character, with a beautiful vaulted ceiling with original exposed beams. Newly decorated in bright and calm neutrals, and lit with windows to both aspects, the master bedroom would appeal to renters or holiday makers in a holiday let setting. The headroom is such that the space is usable throughout, and the original cast iron windows offer lots of light. There is a large radiator, electrical sockets, and the floor is laid with carpet. The ceiling lights are controlled with a remote control switch.
Bedroom 2 4.55m x 3.33m (14'11" x 10'11")
Across the landing is bedroom two, which would also accommodate a double bed. Another room brimming with charm and character, enhanced by the exposed wall and ceiling timbers, this space has a pretty, original window overlooking Corve Street and a borrowed light window over the staircase. The room has a radiator, range of lights, electric sockets, and a remote control, touch-sensitive light switch. A ledge built over the landing provides storage space.
Ebor Mews
Accessed via the wrought iron gate next to Ludlow Ink, and running parallel to Streatley Mews, this pretty alley way allows access for only 5 properties.
Tenure
The property is Leasehold. A lease granted for 120 years from 1st January 2012. The lease provides for the possibility of both residential letting and holiday lets
Service Charge
Equal to the Tenant's Proportion of the Service Costs. "Tenant's Proportion" means 15%.
Ground Rent
For the first 25 years of the Term the Initial Rent of £75 per annum, for the next twenty five years of the Term £150 per annum, for the next twenty five years of the Term £225 per annum, for the remainder of the Term £300 per annum.
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 1a 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 Holiday Cottages indicate a gross return of £18,000 or more per unit. We would market this flat for rental at £700 pcm.