An rare opportunity to acquire this superb investment period property with a £23,448 income per annum representing a rental yield of 9.4%. The property is sure to generate high levels of interest - seperated into 3 flats
*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is powered by IAM Sold.
This property is for sale by the Moden Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, IAM Sold.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance.
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with IAM Sold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of £220.00 including VAT towards the preparation cost of the pack, where it has been provided by IAM Sold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.
Main Reception Hall Accessed via the side aspect is this stunning hallway with a wealth of original features including feature stained glass window, original coving and skirting boards and Minton tiled floor covering. Flat 1 (Ground Floor) Consisting of 3 bedrooms, Reception hall, Communal Room, Kitchen, Shower Room and private cellar. Entrance Hall With Minton tiled floor covering, door to cellar, and additional doors leading to all rooms except the kitchen. Communal Room 14.9 x 8.8 - Double glazed bay window to the rear elavtion, radiator, door leading to kitchen. Bedroom 3 12.0 x 11.4 - Two double glazed windows and French doors to the rear aspect accessing the garden. Decorative coving and picture rails, Tv point and a range of in built fitted wardrobes. Kitchen 9.9 x 9.2 - This modern kitchen comprises of a range of wall and base mounted storage units with roll top work surfaces and complimentary tiled splash back areas. Stainless steel sink drainer unit, integral electric oven, electric hob and cooker hood over, space and plumbing for washing machine and dishwasher, space for fridge freezer, radiator and wall mounted gas combination boiler. Vinyl floor covering, double glazed window and door to the rear and side elevations. Flat 2 (First Floor) Accessed via the main reception hall cosisting of 2 bedrooms, open plan Living Kitchen, Bathroom, seperate Wc, Utility Room. Utility Room/Cupboard 7.6 x 2.4 - Single glazed obscured window to the side elevation, space and plumbing for washing machine. Open plan Living Kitchen Living Area 14.3 x 14.3 - Two double glazed windows to the front elevation, decorative coving and picture rail and wall mounted storage heater. The focal point of the room is a original open feature fire place. Kitchen Area 4.3 x 10.9 - Comprising of a range of matching wall and base mounted storage units with roll top work surfaces incorporating a stainless steel sink drainer unit with mixer taps and tiled splash back areas. Space for cooker with electric cooker point, space for fridge and double glazed window to the side elevation. Bathroom 9.2 x 7.4 - The well-proportioned bathroom comprises of pedestal wash hand basin and panelled bath with electric shower and attachment over. Vinyl floor covering, airing cupboard housing the hot water cylinder and double glazed window to the rear elevation. Bedroom 1 13.5 x 12.9 - Two sash windows to the front aspect, radiator, decorative coving and electric storage heater. Bedroom 2 11.8 x 11.4 - Tow sash windows to the rear elevation overlooking the rear garden. Radiator, decorative coving and feature fire place. Flat 3 (Second Floor) Accessed via the main reception hall and comprising of 1 bedroom, Living Kitchen, Shower Room and storage pantry. Shower Room 8.6 x 3.6 - Low level Wc, pedestal wash hand basin and built in shower cubicle with electric shower and attachment over. Double glazed window to the side elevation. Bedroom 14.4 x 12.5 - Currently used as a studio Bedroom/Sitting Room. Double glazed window to the front elevation, radiator and feature fire place. Living Kitchen 13.5 x 13.6 - Double glazed window to the front elevation, base storage cupboards, stainless steel sink drainer, space for cooker and electric cooker point. Door leading into a storage pantry/cupboard. Outside The property is very impressive form all aspects with gated access leading from the street. There is a pleasant side passage giving access to the main reception hall and timber garden gate leading to the rear garden. The rear garden is mature and beautifully landscaped throughout with shaped lawn area, stocked flower beds, mature planting to boarders and timber fenced boundaries. Feature brick outhouse ideal for storage and possible conversion( Subject to Planning).To the rear of the property is a detached brick built garage
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This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 including VAT.
Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.
A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.
This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor.
A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement In the 28 day period following the auction or the date of acceptance of the offer.
If the Buyer Information Pack Pack has been produced and provided by IAM Sold any successful purchaser will be required to pay £220.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
For further information or to speak to one of our team, please call 0115 855 9731.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.