Flat
A vacant investment opportunity to purchase a one bedroomed flat previously rented out for £9,000 per annum.
This one bedroomed flat offers an excellent return on investment based on the previous tenancy, with a yield of 15% against the guide price.
This is certainly not an opportunity to be missed for any buy-to-let investor looking for a high yielding property.
The property is accessed by its own front door and leads upstairs to a lounge, double bedroom and shower room as well as a separate kitchen.
Its located in Hastings and not far from the coast or indeed Eastbourne, so there are many amenities within close proximity of the property.
Constisting of -
16ft 9 max x 10ft 7 max (5.11m max x 3.23m max)
9ft 6 max x 7ft 8 (2.90m max x 2.34m)
12ft 1 max x 9ft 6 (3.68m max x 2.90m)
Not measured.
Please be advised that 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.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Leasehold. Vacant possession upon completion.
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.
