Apartment
A fantastic chance to buy a sizeable two double bedroom apartment in the very popular Sutton Coldfield area. The property is ready to move into and would achieve a potential rent of £900 per calendar month representing a yield of 15.65% against guide price, based on comparable evidence. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Comprising of entrance hallway, two well sized double bedrooms, a large lounge, modern kitchen and family bathroom. There is storage along the hallway and communal storage.
There is one parking space for the property and visitor spaces.
Situated in Sutton Coldfield minutes from the M6 and M42 this is the perfect commuter property and also within easy reach of local schools, shops, and amenities. A potential ideal investment or first time buy.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Cavity wall, as built, no insulation (assumed)
Standard - 22 mbps available
O2, EE, Three and Vodafone available
The buyer should be aware that the lease requires them to enter into a license to assign. Details of the requirements are enclosed within the legal pack. Completion shall be 5 business days after the requirements of the license to assign.
Leasehold. Vacant possession upon completion.
£150
63
£4,276
- Heating Supply: Electric
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
- Broadband: Cable
Off Street
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.
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