Block of Apartments
DRAFT DETAILS
Nine self-contained flats, currently let producing £42,000 per annum.
This substantial property is prominently positioned within the centre of Preston amongst a whole host of necessary and convenient amenities. The area boasts a bustling community and being within easy reach of both Royal Preston Hospital and the University of Central Lancashire it is a particularly strong BTL location. The property itself is arranged as 8 one bedroom flats and one studio flat, fully let, producing an extremely attractive yield of over 15% (based on Guide Price). The property benefits from double glazing and we are advised from the vendor that a new electric heating system was installed in all flats within the last six months.
4x self-contained flats
3x self-contained flats
2x self-contained flats
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make any 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 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.
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 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.
