Apartment
A well presented second floor studio apartment located in the village of Water Orton and within easy access to the motorway network, NEC and Birmingham Airport. Excellent investment opportunity.
The accommodation benefits from double glazing and comprises:
16.6ft x 12.3ft
8.9ft x 5.10ft
7.5ft x 5.6ft
We understand that the property is currently let at £515 per calendar month, which equates to 11% yield based off the current guide price. We have been informed that tenants are due to vacate on 25th October. The property will have vacant possession upon completion.
We understand that the property is leasehold. We have been informed by the vendor that the flat is subject to a service charge of £1300 per annum and ground rent of £60 per annum. The Auctioneers have not verified this information and ask interested parties to refer to the legal pack.
Leasehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.
.jpg)
