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Block of Apartments in Barnstaple

117 Boutport Street, Barnstaple, Devon EX31 1TD

Lot no: 59 Property type: Block of Apartments Auction type: Unconditional with Fixed FeeWhere exchange occurs immediately on the fall of the gavel. The successful bidder will be legally obliged to exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) together with the buyers fee of £1074 and complete within a set time period.

Guide Price* £340,000+plus fees Result Withdrawn Post



A property split into five self-contained apartments with a Georgian style façade, all of which are individually let. Current rental income £29,520 per annum.

Property Description

The Auctioneers have not inspected property internally but believe the accommodation has been divided up into five apartments, all of which benefit from period features along with entertaining and social space. Two of the apartments are one double bedroomed studio flats, and the remaining three benefit from two double bedrooms. Each apartment is well kitted out with modern kitchens and neutrally decorated throughout. Each of the flats are currently let and sold subject to the existing tenancies, making an excellent investment opportunity.

Tenancy Details:

Flat 1 - Let on an Assured Shorthold Tenancy for a terms of 6 months from 21/07/2018 producing £395 pcm.

Flat 2 - Let on an Assured Shorthold Tenancy for a terms of 6 months from 29/06/2018 producing £425 pcm.

Flat 3 - Let on an Assured Shorthold Tenancy for a terms of 6 months from 29/04/2019 producing £545 pcm.

Flat 4 - Let on an Assured Shorthold Tenancy for a terms of 6 months from 18/04/2019 producing £545 pcm.

Flat 5 - Let on an Assured Shorthold Tenancy for a terms of 6 months from 20/05/2019 producing £550 pcm.

Tenure

Freehold.


Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.

*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.

Energy Performance Certificates
EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.

Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.

Auction Fees
The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.

The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.