Detached house
Substantial nine bedroom detached hostel with planning consent for conversion to two residential dwellings (subject to any necessary amendments/consents).
The property is prominently positioned, fronting Moston Lane, approx. 3.5 miles to the North East of Manchester City Centre and has previously been used as a hostel / HMO. The building now requires renovation and once the necessary works have been carried out, would make an excellent, high-yielding BTL investment. The area is known for it’s strong rental demand in part, by its association with Manchester General Hospital which is close by. The property also has planning consent for the conversion to two substantial residential dwellings, making it an attractive proposition to local developer or builder.
These sales details are awaiting vendor approval.
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.
The Lease is for a term of 99 years from 15th January 1952 (28 years remain). Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Please note that the property will be subject to a 10% deposit payable on exchange. Please see the special conditions of sale within the auction legal pack.
Leasehold. Vacant possession upon completion.
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:
• 10% 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.
