Residential Development
Goodchilds Newton Fallowell are pleased to present this development opportunity including three existing flats (tenanted) within a detached building on Stafford Street, St Georges. The existing building contains three flats; a ground floor 2bed, ground floor 1bed and a first floor 2bed. To the rear is a building plot with planning permission for a further 2 x 1 bed maisonettes. Please see the attached plans and drawings. Planning Reference Number: TWC/2017/0169 & TWC/2019/0820
The lot is to be sold as one complete Freehold transaction and
includes all of the above. The vendor does not wish to split into
individual sales.
The site known as 32 Stafford Street, St Georges, formally of
commercial use was given permission to be converted to
residential dwellings in 1983. The conversion led to the construction of two ground floor flats and a first floor flat broken down below.
A two bedroom ground floor flat comprising of a lounge / diner,
kitchen area, two bedrooms, bathroom and utility area. This flat is currently rented at £432 PM. We are advised that the tenant is up to date with rent and on a rolling period tenancy.
A first floor flat comprising of two double bedrooms, lounge,
kitchen, bathroom and entrance hallway. We are advised that the flat is rented for £395 PM and the tenant is fully up to date with rent. The tenant is currently on a rolling periodic tenancy
A brilliant one bedroom flat comprising of an open plan lounge /
kitchen area, double bedroom, shower room and hallway.
Compact but in high demand the property is currently rented out
for £395 PCM. We are advised that the tenant is on a rolling periodic tenancy and there are no rent arrears.
To the rear of the property is a piece of land with older out
buildings. Permitted planning for demolition of the garages and
the construction of 2x One Bedroom Maisonettes is currently
approved. Please see planning & bed maisonettes. Please see the attached plans and drawings. Planning Reference Numbers :‐ TWC/2017/0169 & TWC/2019/0820.
The estimated value of each dwelling once completed is £95,000 to £100,000 with estimates rents of around £550 PCM.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 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.
