Block of Apartments
Located on the popular Branston Road, recently converted and refurbished end-terraced property into three self-contained flats currently with vacant possession.
In our opinion we would estimate a combined rental income of £15,600 per annum, this represents a 10.75% return based on the guide price.
The property is of a neutral decor and to the ground floor there are two one-bedroomed self contained flats and to the first floor a one-bedroomed self contained flat. Outside to the rear there is a upvc double glazed conservatory and garden mainly laid to lawn.
The sale provides a genuine opportunity for a discerning purchaser looking to acquire a ready-to-go buy to let portfolio.
The accommodation comprises:
With separate fuse boxes for the flats, laminate flooring and staircase to first floor.
With upvc double glazed window to front elevation, fitted kitchen in high gloss units with wall mounted cupboards, base unit, with preparation surface with stainless steel sink and drainer with mixer tap. There is also an integrated electric oven with hob and chimney style fan assisted cooker hood over. There is also a wall-mounted electric panel heater and access through to bedroom/lounge.
With upvc double glazed window to front elevation, wall mounted electric panel heater and laminate floor covering.
Comprises a quadrant shower tray, with shower unit over and sliding glazed shower screen, low level wc, pedestal wash hand basin, wall mounted mirrored cupboard and wall mounted electric heater.
With upvc window to rear elevation, built in cupboard, wall mounted electric panel heater and laminate floor covering.
With upvc double glazed window to front, fitted kitchen in high gloss units with wall mounted cupboards, base unit, with preparation surface with stainless steel sink and drainer with mixer tap. There is also an integrated electric oven with hob and chimney style fan assisted cooker hood over. There is also a wall-mounted electric panel heater and access through to shower room.
Comprises a quadrant shower tray, with shower unit over and sliding glazed shower screen, low level wc, vanity wash hand basin, wall mounted mirrored cupboard and wall mounted electric heater.
With upvc double glazed window to front elevation, fitted kitchen in high gloss units with wall mounted cupboards, base unit, with preparation surface with stainless steel sink and drainer with mixer tap. There is also an integrated electric oven with hob and chimney style fan assisted cooker hood over. There is also a wall-mounted electric panel heater and access through to bedroom/lounge.
With upvc double glazed window to the rear elevation, wall mounted electric panel heater and laminate floor covering.
Comprises a quadrant shower tray, with shower unit over and sliding glazed shower screen, low level wc, vanity wash hand basin, wall mounted mirrored cupboard and wall mounted electric heater.
There is a shared passageway leading to the rear garden which is mainly lawned and a upvc double glazed conservatory/sunroom.
Flats 1 and 2 - The seller has informed us he has been given verbal quotes from local estate agents at £425 per calendar month for the flats and £450 per calendar month for Flat 3. These combined represent an estimated rental income of £15,600 per annum.
Freehold sold with part vacant possession (as to 121) and part with the benefit of the Lease (as to 121A).
The owners of no 121 Branston Road own the freehold of 121a Branston Road, and receive £100 per annum from the leaseholder.
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.
