Studio flat
High-yielding studio apartment, let producing £800 per calendar month.
The property is situated in the rear courtyard of this impressive residential conversion, situated within a popular and cosmopolitan area of Salford. The building maintains many impressive original features and is complimented with modern accommodation which includes an internal residents gym.
Locally, there is a full range of city centre attractions from both Salford and Manchester, including many popular bars, restaurants and nightclubs as well as art galleries, museums and many other cultural offerings.
The property is currently tenanted producing an impressive 24% gross yield on the guide price.
We are advised the property is known as Flat 57.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make necessary independent enquiries before placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
Leasehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Timed Auction 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.
