Studio flat
A well maintained ground floor studio flat conveniently located for Sandwell Hospital, which would make an ideal addition to an investment portfolio with an estimated yield of 10% once let, if purchased at the current guide price. The property is situated on a residential estate and is just over 1 mile from West Bromwich town centre. The property will be sold with vacant possession, however has previously been let at £350 per calendar month. The property benefits from double glazing and briefly comprises:
Having a door to the communal hallway, cupboard, door to bathroom, lounge/bedroom area.
4.19m x 2.67m
Double glazed window to the side, open plan to bedroom area, intercom system, door to hallway and kitchen.
Double glazed window to the side, a range of fitted wall and base units, work surfaces over, stainless steel sink drainer, tiling to splash back, electric oven, electric hob, cooker hood over, plumbing for washing machine, door to lounge.
Having shower cubicle, wash hand basin, low level WC, electric heater and is fully tiled.
The property is leasehold. We have been informed that it is subject to a half yearly ground rent of £37.50 and service charge of £1,200 per annum. The Auctioneers have not verified this information and interested parties should refer to the legal pack.
Leasehold.
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 Fixed Fee.
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 auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s 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
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.
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