Apartment
DRAFT DETAILS - AWAITING APPROVAL
If you are looking for a fantastic investment you need look no further than Exchequer Grange. This apartment is already managed by Guest Stays as serviced accommodation by the current owner. We are informed that the current daily rate being charged is £85 - £90 and the occupancy rate is approx 77% so the potential income at the current level is in excess of £24,000 per year which is a 25% yield. So if you are looking for an investment then this is definitely one you should be registering to bid on.
Please be advised that we are required under the Estate Agents Act 1979 to declare any conflicts of interest. The seller is a company that is linked to individual representatives of our partner agent in the sale. Additionally, whilst our partner agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Length of lease: 250 years from and including 1.1.2020<br>Current ground rent: A peppercorn (£1.00)<br>Ground rent review period: TBC<br>Current service charge: TBC<br>Service charge review period: TBC<br><br>This information should be clarified in the legal pack and we’ll update the information above when we receive it.
Leasehold. Vacant possession upon completion.
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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.
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 and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
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.
