Apartment
A two bedroom ground floor apartment located close to the city centre of Lincoln. The accommodation briefly comprises; Entrance Hall, Lounge Kitchen, Two Bedrooms and Bathroom. A long term tenant is currently in situ with a passing rent of £510pcm.
The city of Lincoln is one of England's most historic cities, with the impressive Norman castle and one of the finest medieval cathedrals in Europe. The city also benefits from two well-regarded universities, a fantastic entertainment district and a wealth of bars and restaurants. The property is situated on the edge of the historic Bailgate area of Lincoln, a popular part of the city with picturesque streets and historic interest, as well as having a superb selection of amenities, schools and excellent transport links. The A15 and the A46 roads provide direct access to the north and south of the county. There are also direct trains to London and Edinburgh from Newark Northgate, within easy reach of Lincoln.
Tenure - Leasehold with 125 years from June 2007. Annual service charge is payable £34.17 per month and is reviewed March each year.
Services - Mains water, drainage and electrics are all connected. It is recommended any potential purchaser carries out their own inspection to satisfy the condition.
Vinyl floor and carpet, two ceiling lights, smoke alarm and radiator.
Carpet, two ceiling lights, radiator and two uPVC double glazed windows.
Vinyl floor, fitted wall and base units, four ring gas hob, sink and drainer, extractor fan, space for a fridge, space and plumbing for a washing machine and tiled splashbacks
Carpet, radiator, two ceiling lights and uPVC double glazed window.
Carpet, uPVC double glazed window, gas fired boiler, ceiling light and radiator.
Vinyl floor, low level WC, bath with mains shower, vanity wash hand basin, heated towel rail, tiled splashbacks, shaver point, ceiling light and extractor.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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.
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