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57A Union Street, Wednesbury, West Midlands WS10 7HB

Lot no: 54 Re-entry to a future auction
 

Guide Price £36,500+ plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.

Thursday 27th May 2021

10.00am
Key Features
  • Visit sdlauctions.co.uk to register to bid
  • Investment purchase
  • £5,400 per annum return
  • Two bedrooms
  • EPC Rating: E
  • Centrally located
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Re-entry to a future auction

Apartment

Property Description:

This two bedroomed apartment is currently returning an income of £450 per calendar month/£5,400 per annum which equates to a yield of over 13% based off the guide figure. Being centrally located in Wednesbury’s main shopping centre, it provides convenient access to shops, restaurants and the leisure centre along with the road and tram links making it the ideal rental property and investment.

The auctioneers have not inspected the property but believe it to comprise -

Entrance Hallway

Leading into -

Lounge

14' 10" x 12' 11" Max ( 4.52m x 3.94m Max )

Kitchen

12' 6" x 9' Max ( 3.81m x 2.74m Max )

Bedroom One

13' 7" Max x 13' ( 4.14m Max x 3.96m )

Bedroom Two

10' 7" Into Recess x 9' 8" ( 3.23m Into Recess x 2.95m )

Shower Room

.

Occupancy

Subject to tenancy. Interested parties are advised to inspect the legal documents for further information.

Tenure:

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.