Block of Apartments
A block of eight apartments which require finishing works.
This handsome, period building is part way through conversion into eight apartments. 7x one beds and 1x two bed. Total gross internal area of 4700 sq ft.
Planning permission was granted for change of us from bank (A2) to 8 residential apartments. Works have been started with each apartment at different stages of finishes.
Ref- 20/01286/Full Full information can be found on www.sheffield.gov.uk
The property is a former bank premises of red brick construction with Sandstone Quoins and stone lintels under a pitched slate roof.
Well placed with an abundance of local amenities including shops, bars and restaurants.
There is tram and bus stops close by.
An ideal investment opportunity which has an estimated rental value of £60,000-£65,000 per annum once finished. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
This property may qualify for stamp duty land tax relief, subject to certain conditions, please see further details below.
NOTE TO BUYERS:
Prospective buyers are to note the CIL liability referred to at page 3 of the Local Authority Search which will pass to the buyer and are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Offering Storage Space
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.
These sales details are awaiting vendor approval.
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.
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.
