Block of Apartments
An excellent investment opportunity to purchase 6 self contained apartments.
5 are fully let returning £1600 per calendar month, £19,200 per annum giving a yield straight away of 14.77% against guide price.
The current owners apartment is the largest and could be let for around £500 per calendar month increasing the returns to £2100 per calendar month, £25,200 per annum giving a potential yield of 19.38% against guide price.
There is excellent scope to improve and increase each rent or split the apartments and sell separately.
Located within close proximity to Ramshill shopping parade, the South Bay beach and town centre. Excellent public transport links making it an always popular rental property.
Construction Material: Standard brick. Heating: Boiler, mains gas. Coverage: Broadband - Standard and Superfast is available in this location. Mobile signal - O2, Vodafone, EE and Three show as available. Satellite and Cable - BT and Sky show as available in this area.
Freehold. Vacant possession upon completion.
- Heating Supply: Double Glazing, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
- Broadband: Cable
On Street, Permit
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and 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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 1.2% of the purchase price (subject to a minimum 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.
