Terraced House
This property is currently operating as Serviced Accommodation and during 2019 achieved an occupancy rate of 57% with an income of £16,926. The property will be offered with vacant possession, however, you may wish to continue to operate as serviced accommodation and managed as an armchair investment with a local managing agent, if required.
A potential occupancy rate of 85% can be achieved generating
an income of £25,000 per annum. Alternatively this property can be offered as a single property tenancy whereby it would achieve £10,740 per annum. This property also comes fully furnished with everything detailed in the Fixtures and Fittings form and would include the full furniture pack worth £5,000. We have been advised that occupancy rate in 2019 was below expectation as this was a new concept in the local area, however, the vendor believes there is great scope to further improve on the marketing of the property as serviced accommodation for local contractors working at UTC Aerospace, JLR and UK Roadworks due to the close location to these businesses for contractors.
The Auctioneers have not inspected the property but believe it to comprise:
Freehold.
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){kind=logo}
