Apartment
Purchase a heavily discounted, well-appointed 2-bedroom apartment with tenants in situ. The property currently generates a rental income of £8640 per annum, however, there is scope to increase this to £9300 per annum in line with other similar apartments within the same building achieving this value.
5 minute drive to Junction 7 of the M60
15 minute drive to Manchester Airport.
6 minute walk to the metro link station with direct access into Manchester Piccadilly within 16 minutes
60 apartments within a 500m radius of the property have sold since July 2018. The average sale price has been £261 per Sqft.
The floor area is unknown. However, judging by similar properties for sale within the same building, the floor plan is estimated to be between 550 - 650 Sqft. If one was to purely follow the market data then this would indicate a valuation of £143,550 - £169,500
Potential rent uplift: £775 PCM or £9300 PA
Council tax Band C
Leasehold. 246 years remaining
Ground Rent: £250 pa.
Estate service charge: £434 pa
Building service charge: £728 pa
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 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.
