Apartment
A one bedroom apartment in a very sought after and ever popular Dutch Quarter of Colchester. The property is currently let on an AST producing a rental income of £675 pcm (£8,100 per annum).
The property offers an excellent opportunity to acquire a high yielding BTL investment. With rental properties scarce in the local area and with rental incomes increasing, there is potential to increase the rent and generate in the region of £10,000 per year from this property.
The accommodation briefly comprises of an entrance hall, kitchen, lounge, double bedroom and bathroom. Externally there is communal parking available.
We are informed that the communal heating system and running costs are included within the service charges. Please refer to the legal pack for further information and confirmation.
The property benefits from a central position within walking distance of Colchesters historic town centre which offers an array of local amenities and is also within easy reach of Colchester Town Station with direct links to London Liverpool Street.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Construction Material: Standard Brick. Heating: Community scheme. Broadband Coverage: Standard, Ultrafast and Superfast are 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.
These sales details are awaiting vendor approval.
Leasehold. Subject to tenancy.
£10
90
- 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.
