Apartment
This fourth floor two bedroom apartment, located within The Gatehaus development in Bradford City Centre, would make a good addition to a portfolio. The property is currently generating an income of £7,800 per annum, which equates to a gross return of more than 18% at the current guide price.
The accommodation comprises, living kitchen, bedroom, occasional double bedroom (internal window only) and bathroom. There is also a balcony that looks out into the central courtyard of the development. The Gatehaus development is very close to the centre of Bradford and only a short walk from the Broadway shopping centre.
The lease is 999 years from January 2007. We have been advised the current service charge and ground rent, combined, are £1,560 per annum. Residents can purchase a 3 year parking permit, for a charge of just £35. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
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 Auction Event and is being sold under and 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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £2,400 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.
