Block of Apartments
The property consists of two self contained flats.
The property is currently fully tenanted so it is an ideal hands off investment. Combined total income of £12,900 per annum.
Potential for rental increase to achieve approximately £13,800 per annum with scope to let flat two(three person) on a room by room basis, to increase the overall rent potential to £18,852 per annum, subject to any required permissions. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Each property also has large cellar space (same footprint as the Ground Floor) which may offer scope for further accommodation. We are informed that cellar space holds the potential for a one bedroom flat to the basement/lower ground, subject to any required permissions.
The lower ground space also opens up to a large space at the back of the property that could be private garden space for the potential lower ground development or for parking spaces.
Hallway, Lounge, Kitchen, Bedroom, Bathroom
Hallway, Open Plan Lounge/Kitchen/Diner, Bedroom One, Bedroom Two, Bedroom Three, Bathroom, Shower Room
Cellar/lower ground floor space and rear garden.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
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 (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.
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 £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
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.
