An attractive a mid-terraced Victorian property that is currently arranged as two well-presented 2-bedroom flats. The ground floor garden flat is offered for sale with vacant possession and the first floor flat is currently let on an AST producing £1,200 pcm. A superb residential investment with a potential rental income in the region of £32,400 per annum or break-up opportunity with sales figures totalling circa £500,000.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 25 July at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £370,000 - INVESTMENT/BREAK-UP OPPORTUNITY - 2 X 2-BEDROOM FLATS
DESCRIPTION -
An attractive a mid-terraced Victorian property that is currently arranged as two well-presented 2-bedroom flats. The ground floor garden flat is offered for sale with vacant possession and the first floor flat is currently let on an AST producing £1,200 pcm. A superb residential investment with a potential rental income in the region of £32,400 per annum or break-up opportunity with sales figures totalling circa £500,000.
LOCATION -
The property is situated on Daisy Road, a sought-after residential street in Greenbank with easy access provided to a wide range of local amenities on St Marks Road, local cycle paths and the city centre.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR FLAT -
Comprising an entrance hall, two double bedrooms, a living room with access onto the rear garden, a kitchen and shower room.
FIRST FLOOR FLAT -
Comprising an open-plan kitchen/dining/living room, two double bedrooms and a bathroom.
RENTAL / BREAK-UP VALUES -
The first floor flat is currently let on an AST producing £1,200 pcm and the ground floor flat is vacant. We would anticipate the following market rental and resale values for each flat:
GROUND FLOOR FLAT: £1,400 PCM / £265,000
FIRST FLOOR FLAT: £1,300 PCM / £235,000
TOTAL: £32,400 PER ANNUM / £500,000
TENURE -
The property is for sale on a freehold basis, subject to the AST of the first floor flat.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATES (EPCs) -
Ground Floor Flat: Rating D
First Floor Flat: Rating E
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,500 plus VAT (£1,800 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £150,000: £5,000
£151,000 and above: £10,000
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (1,800 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.