Detached House
Draft Details.
Traditional bay fronted end terraced house arranged as two flats
Currently let and producing £9960 per annum
Potential for rental increase
Excellent investment opportunity
EPC Rating: TBC
Occupying a popular and convenient location within the historic city of Chester, this traditional end terraced property which is arranged as two flats comprising a two bedroomed flat on the ground floor and a one bedroomed flat on the first floor.
The ground floor flat is currently let with the tenant holding over on an assured shorthold tenancy from 2007 at an annual rent of £5520 per annum, and the tenant in the upper floor flat is holding over on an assured shorthold tenancy from 1998 at £4440 per annum. These long-established tenants are therefore producing a combined income of £9960 per annum and it is considered that there could be some uplift in the rents to increase the rental income.
Outside the property has a foregarden to the front and a yard to rear.
Vicars Cross Road is situated on the East side of the historic city of Chester, within approximately one mile of the City Centre. Chester itself offers a comprehensive range of amenities and the property is situated within approximately a mile of the M53 which provides swift onward travel to the north and in conjunction with the M56 provides onward travel to the east and west.
Accommodation:
Ground Floor Flat One
Two Bedrooms
Tenant : A Varughese
Lease Terms: 12 Months tenancy from 4 January 2007
Rent: £5520 per annum
First Floor Flat Two
One bedroom
Tenant: D Wright
Lease Terms: holding over on a 6 month assured shorthold tenancy from 12 December 1998
Rent: £4440 per annum
Tenure
Freehold. Subject to tenancies.
Note:
To comply with the Estate Agents Act 1979, interested buyers/purchasers are informed that the vendor is an associated company of Graham Penny Auctions Ltd.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a buyers contract handling fee of £500 (plus VAT) payable on the fall of the hammer.
For Sale By Auction - Thursday 9th May 2013
At Nottingham Racecourse, Colwick Park, Nottingham NG2 4BE
Commencing at 11.30 am
