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1 Causey Drive, Middleton M24 5PN

Lot no: 10 Sold at Auction for £422,000
 

Guide Price £250,000+ plus fees

Unconditional with Variable FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 30 days unless the Special Conditions of Sale state otherwise.

Thursday 30th November 2023

10.00am
Key Features
  • A part-built block of six flats
  • Arranged over three floors with two, two-bedroom apartments on each floor
  • Completed to a high standard with internal fixtures and fittings now required to finish off
  • Well positioned within a popular residential area
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Sold at Auction for £422,000

Block of Apartments

Property Description:

A fantastic opportunity to purchase a part-built block of six flats situated in a popular residential area of Middleton.

The building is arranged over three floors with two, two-bedroom apartments on each floor. The work so far has been completed to a high standard with internal fixtures and fittings now required to finish off the development. The site benefits from plenty of external space for parking, bin stores and cycle storage.

The property Is well positioned within a popular residential area just over a mile from Middleton town centre and seven miles from Manchester city centre. All necessary amenities and services can be found nearby including shops, schools, transport links and a selection of pubs, bars and eateries.

Viewings are advised to appreciate the level of the work done so far and the potential.

Further information and plans can be found in the legal pack.

This property may qualify for stamp duty land tax relief, subject to certain conditions, please see further details below.


Please note:

Vendor has advised that there is a valuation at £160,000 per flat (when complete) which would be a gross development value of £960,000 when finished. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Draft Sales Details

These sales details are awaiting vendor approval.

Land Tax Relief

We believe that this property may be of a type that qualifies for Stamp Duty Land Tax/Land and Buildings Transaction Tax/Land Transaction Tax relief (as applicable). We work with a tax consultancy who can provide expert tax advice in this regard. Free consultations are available. You will only be charged a fee for this service based on any actual tax savings made, on a percentage basis. We in turn will receive a fee from the provider in exchange for referring you. Please contact us if you are interested for further details.

Tenure:

Freehold. 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. Properties located in Scotland will be subject to applicable Scottish law.


Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers 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 Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

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 (and any applicable Home Report for residential Scottish properties).


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.