BLOCK OF 6 FLATS - IDEAL INVESTMENT OR BREAK-UP OPPORTUNITY
An excellent opportunity to acquire a purpose-built investment property comprising six well-appointed flats in a prime location just off Staple Hill High Street. The property is fully-let and generating over £71,000 per annum, with the potential to increase to approximately £75,000 per annum, making it a highly attractive addition to any property portfolio. Additional features include a private car park with designated spaces for each flat, ensuring hassle-free off-street parking, while the ground-floor flats have direct access to private gardens.
The property offers tenants easy access to a wide range of local amenities, including cafés, restaurants, supermarkets, shops, and schools, the property also benefits from excellent transport links, providing a seamless commute to the city centre within 35 minutes, with the M4 and M32 motorways conveniently reachable within 30 minutes.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 20 March 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
PURPOSE-BUILT INVESTMENT PROPERTY ARRANGED AS SIX FLATS
DESCRIPTION -
An excellent opportunity to acquire this attractive, purpose-built investment property comprising six well-appointed one-bedroom flats. The property is fully-let and generating over £71,000 per annum, with the potential to increase to approximately £75,000 per annum, making it a highly attractive addition to any property portfolio or potential break-up opportunity. Additional features include a private car park with designated spaces for each flat, the ground-floor flats have direct access to private gardens and all flats benefit from double glazing and gas central heating. Ideally situated just off Staple Hill High Street, the property offers tenants easy access to a wealth of local amenities and transport links.
LOCATION -
Situated just off Staple Hill High Street, this property enjoys a prime location close to an extensive range of local amenities, including cafés, restaurants, supermarkets, shops, and schools. Excellent transport links provide seamless access to the city centre within 35 minutes, making it ideal for commuters. Each flat benefits from a dedicated parking space within the private car park. Additionally, the M4 and M32 motorways are conveniently reachable within 30 minutes, offering easy connectivity to surrounding areas and beyond.
SCHEDULE OF ACCOMMODATION -
FLAT 1 - Ground floor flat comprising a kitchen/living room, bathroom and double bedroom with a private rear garden.
FLAT 2 - Ground floor flat comprising a kitchen/living room, bathroom and double bedroom with a private rear garden.
FLAT 3 - First floor flat comprising a kitchen/living room, bathroom and double bedroom.
FLAT 4 - First floor flat comprising a kitchen/living room, bathroom and double bedroom.
FLAT 5 - Second floor flat comprising a kitchen/living room, bathroom and double bedroom.
FLAT 6 - Second floor flat comprising a kitchen/living room, bathroom and double bedroom.
Please refer to the floorplan for approximate room measurements and internal layout.
TENANCY DETAILS / RESALE VALUES -
FLAT 1 - Let on an AST producing £1,000 pcm / £185,000
FLAT 2 - Let on an AST producing £1,000 pcm / £185,000
FLAT 3 - Let on an AST producing £975 pcm / £175,000
FLAT 4 - Let on an AST producing £1,050 pcm / £175,000
FLAT 5 - Let on an AST producing £950 pcm / £175,000
FLAT 6 - Let on an AST producing £950 pcm / £175,000
TOTAL: £71,100 PER ANNUM / £1,070,000
TENURE -
The property is for sale on a freehold basis, subject to the ASTs detailed above.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) RATINGS -
Flats 1, 2, 4, 5 & 6 - C
Flats 3 - B
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.
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
