Block of Apartments
The building was formerly a Natwest Bank which has recently been redeveloped by the sellers into a mixed use development.
The accommodation is arranged over three floors and the development has a good sized car park to the rear.
7 x 2 bedroomed flats.
1 x Large one bedroomed flat.
2 x Ground floor retail units with A1 use.
The apartments and retail are all in good order and comply to current building regulations including fire alarms, emergency lighting, etc.
Situated in the town centre close to shops, bars, restaurants and parks. The bonus of parking is a major advantage in this town centre location.
The property is part let and part vacant.
Currently seven flats are let out with a combined income of £52,980 per annum.
Estimated Rental when fully let is £80,000 per annum and therefore offering a return of 10%.
Comprising -
Leading to -
With windows to the front and toilet.
With windows to the front and toilet.
Consisting of -
Giving access to the apartments with secure access door.
Flat One - Hall, lounge/kitchen, two bedrooms, shower room. Let at £650 per calendar month.
Flat Two - Hall, lounge/kitchen, two bedrooms, shower room. Let at £600 per calendar month.
Flat Three - Hall, lounge/kitchen, two bedrooms, shower room. Let at £650 per calendar month.
Flat Four - Hall, lounge/kitchen, two bedrooms, shower room. Let at £600 per calendar month.
Flat Five - Hall, lounge/kitchen, two bedrooms, shower room. Let at £650 per calendar month.
Flat Six - Hall, lounge/kitchen, two bedrooms, shower room. Vacant.
Flat Seven - Hall, lounge/kitchen, two bedrooms, shower room. Let at £665 per calendar month.
Flat Eight - Hall, lounge/kitchen, bedroom, shower room. Let at £600 per calendar month.
Bin and recycling store.
Large block paved car park with nine parking spaces and secure gated access.
Freehold.
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.
