Flat
A residential investment opportunity comprising a ground floor flat, which we are advised is tenanted at £500pcm (£6,000pa).
We believe the accommodation to comprise of entrance hall, sitting room, kitchen, one bedroom and bathroom.
The property is located on Park Villas, off Durham Road (B6309), in a residential area approximately 2 miles from Consett town centre. Newcastle upon Tyne is approximately 14 miles to the north east.
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.
125 years from 30 May 2006. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Cavity wall, as built, partial insulation (assumed) - Information taken from EPC.
Standard 5 mbps, Superfast 61 mbps and Ultrafast 1000 mbps are available in this location
EE, O2, Vodaphone and Three are available in this location for Voice and Data.
Sky and BT are available in this location.
Surface Water - Very Low
There is no tenancy agreement provided in the legal pack and therefore we cannot confirm the rental figure given in our marketing. Prospective buyers are referred to special condition 40 and are advised to make all necessary independent enquiries prior to placing their bid as this will be binding. The receiver is not in a position to respond to queries, and we are asked not to submit preliminary enquiries.
Leasehold. See legal pack.
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- Heating Supply: Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Auction Details
The sale of this property will take place on the stated date by way of Timed Auction 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 £2,400 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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