Bungalow
An investment property with a 15 year rental contract generating a yearly income of £4,560 and offering in excess of 22% return against the guide price.
The 15 year rental contract has been in place for 5 years and has a remaining 10 years left making this bungalow an ideal handsfree investment opportunity.
The property briefly comprises of an entrance porch, lounge, kitchen, two bedrooms and a bathroom.
Construction Material: Standard brick. Heating: Electric storage heaters. Coverage: Broadband - Standard and Superfast is available in this location. Mobile signal - O2, EE and vodafone show as available. Satellite and Cable - BT, Sky and Virgin show as available in this area.
We have been advised by the seller there is a service charge cost of approximately £15 monthly for the communal grounds care and maintenance. Buyers are to do their own research and refer to the legal pack.
Freehold. Subject to tenancy.
- Heating Supply: Electric
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Communal
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 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.
