Apartment
An excellent investment opportunity to purchase 2 apartments in a recently built block of 14 apartments, all of which have been finished to a very high standard.
For sale are apartments 2 and 5 which currently generate a handsome yearly rental income of £27,360. Offering a gross return against the guide price of 9.2%. Rana Court is definitely an investment worth bidding on.
Please read the legal pack which includes details for the winning bidder to additionally purchase the freehold of the building and an additional 4 parking spaces.
Both flats comes with 10 year new home build warranty by ABC+ and offer further potential to extend above (STPP)
The lease from 2021 was set at 250 years and each flat has a service charge of £1,700 pa, which includes building insurance. There is no ground rent (set as peppercorn).
Each apartment briefly consists of a double bedroom, lounge / dining room open to a separate kitchen and a shower room. Each apartment has 1 secure allocated parking space with shutter. The property is also equipped with video intercom for each flat. Externally there is the benefit of two large communal terraces to the front and rear. Please see floorplan for layout of each apartment.
The apartments are very well located with excellent transport links to central London via the train. The M1 offers access North and South and Luton Airport gives further worldwide transport access.
Locally the Stockwood Golf Park is approx. a 10 minute walk away. There are an abundance of local amenities, shops, supermarkets, restaurants nearby, with a bus stop just at the doorstep for easy transport access.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Leasehold. 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 under an Unconditional sale type.
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 (subject to a minimum of £6,000 inc. VAT).
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.
