Terraced House
Property Description:
This terraced property contains two tenanted apartments currently providing an annual income of £12,000 per annum, and conveniently located close to the Southport town centre.
Located on the ground floor is a one bedroom apartment briefly comprising of; lounge, kitchen, double bedroom, bathroom. Also benefiting from access to basement rooms.
To the first floor is a recently decorated two bedroom apartment, briefly comprising of; lounge-kitchen, two double bedrooms and bathroom.
A great investment opportunity to either start or build on an existing property portfolio!
Ground Floor Flat
One bedroom flat currently achieving a monthly rental income of £450.
Lounge 10.5ft x 19.6ft (3.19m x 5.97m)
Good size lounge with dining space. Window to rear aspect.
Kitchen 5.3ft x 7.9ft (1.62m x 2.41m)
Practical fitted kitchen, featuring
fitted induction hob, oven, stainless steel sink and a good range of modern cupboard units.
Bedroom 11.8ft x 10ft (3.6m x 3.05m)
Double bedroom. Window to the front aspect
First Floor Flat
Two bedroom flat currently achieving a monthly rental income of £550, and benefiting from recent decoration.
Lounge Kitchen 17.8ft x 11.9ft (5.44m x 3.62m)
Open-plan living space incorporating a good size lounge with kitchen area. Two windows to the front aspect.
Bedroom One 10.9ft x 10.8ft (3.31m x 3.29m)
Double bedroom with window to the rear aspect.
Bedroom Two 11.7ft x 11.3ft (3.58m x 3.45m)
Double bedroom with window to the rear aspect.
Bathroom
Three piece suite comprising of
panelled bath with shower over, pedestal sink unit and WC.
Tenure:
Freehold. Subject to tenancy.
Auction Method:
The sale of this property will be conducted online. This is a "Buy-It-Now" lot, so there are no other lots being sold alongside this property.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to the Buyers Terms (England & Wales).
Auction type - Unconditional with Variable Fee
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 15 business days unless the Special Conditions of Sale contained within the legal pack state otherwise.
Auction Fees
The following non-refundable fees apply:
Buyer's Fee - payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000
(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000
The Buyer's Fee is subject always to a minimum of £6,000 (including VAT). The Buyer's Fee does not contribute to the purchase price.
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 Special Conditions carefully before bidding. Any additional fees are included at the seller's discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable to us. SDL Property Auctions has limited control over the content of the Special Conditions of Sale.
Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Payment Method:
When you register to buy the property, you will be prompted to provide your payment details. Once your registration has been processed, your card will automatically be charged the value of the applicable auction fee and deposit.
Legal Pack
Before placing your bid, you must view the legal pack. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The Legal Pack can be viewed on SDL Property Auctions' website under the sub-heading "Legal Documents". Underneath this, you will be prompted to "log in to view the legal documents". Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until you place your bid, so you must check for the most recent version of the legal pack. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before placing your bid.
Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Property Auctions' terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
Energy Performance Certificate
The EPC for this property can be viewed on SDL Property Auctions' website by logging in to view the legal documents for the property. Go to the "Legal Documents" area. Underneath this, you will be prompted to "log in to view the legal documents". Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
Registration Process:
To register to bid on the property, please go to SDL Property Auctions' website and follow the link to "Log in/Register to Bid". You will then be directed to create an account with the online-bidding platform provider, EIG.
Disclaimer: In some exceptional circumstances there may be a delay in processing your registration. If this delay results in another person placing a successful offer, SDL Property Auctions are not liable to you for any loss of opportunity.
Available Price
The property is available to purchase immediately at the price listed on the lot.
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