Block of Apartments
An excellent investment opportunity generating a yield in excess of 13% at the current guide price.
This property has tenants in situ in 3 flats in a freehold block currently generating £14,400 per annum. The property consists of two x two bedroomed and one x one bedroomed flats, let to long term tenants on assured shorthold tenancies. We are informed the whole building was fully refurbished in 2019 and it consists of three storeys with a fire escape to the rear, with accommodation finished to a high lettable standard with fully fitted kitchen and bathrooms.
Gas central heating with modern combi boilers which still have warranty including up to date gas safety certs. Further details should be provided within the legal pack.
Modern PVC double glazing. We are informed all electrics are certified and up to date including an interlinked fire alarm system for the building.
The auctioneers have not inspected the property but believe it to comprise:
One bedroomed flat. Tenant pays £400 per month and is in situ since 2015.
Two bedroomed flat. Tenant pays £400 per month and is in situ since 2019.
Flat 3: Two bedroomed flat. Tenant pays £380 per month and is in situ since 2019.
Subject to tenancies. Please see legal pack for further details.
The internal photos have been supplied by the seller.
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.
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