Block of Apartments
An investment opportunity comprising 3 apartments located in a very popular housing estate with a huge demand for rental properties. Current income £24,600 per annum.
The property comprises a brick built semi-detached property with a part pitched and part flat roof situated on a corner plot with small fore gardens and scope to the rear to potentially extend, subject to planning. There is also a garage to the rear of the property.
The three apartments are completely independent and are let on AST agreements and feature gas central heating and their own meters.
Number 1 is let at £750pcm and has two bedrooms.
Number 1a is let at £600pcm and has two bedrooms.
Number 3 is let at 700pcm and has three bedrooms.
The location of the property provides easy access to a wide range of amenities available in the local area including shops, schools as well as transport links into Newcastle City Centre and surrounding areas. The A69 and A1 trunk roads are also within easy reach.
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.
Rivers and Seas No Risk Surface Water Low.
O2, EE, Three and Vodafone are available.
Standard 15 mbps. Superfast 76 mbps. Ultrafast 1000 mbps.
BT and Sky are available.
Cavity wall, as built, partial insulation (assumed).
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
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 auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers 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.
