This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
Awesome Investment Opportunity!
3 self-contained flats are available for sale over 3 storeys providing good quality living accommodation to each of the residents. All 3 units are currently let and generating rental income circa £18,000pa.
Conveniently situated within a stroll of the city centre and amongst a thriving community, this property generates an impressive rental yield and must be of interest to serious investors.
Main Entrance Hall
An external door opens to the main hallway. This provides access to a ground floor flat (1) and a duplex apartment towards the back of the property (flat 2). The main staircase leads from the entrance hall extending to the 1st floor and a wonderfully spacious 2-bedroom duplex apartment arranged over the first and 2nd floors (flat 3)
Flat One
The flat door opens to a smart lounge / fitted kitchen divided by a breakfast bar. The tall bay window fills the room with natural light and the kitchen is well equipped with a good selection of bright white cupboards and base units. Off the entrance lobby, the bathroom has a full white suite and the double bedroom looks out towards the gardens behind the property
Flat Two
At the back of the building, flat 2 opens to a hallway and a compact lounge/ kitchen. The living space is good and the décor clean and bright. A staircase from the hallway has plumbing beneath for the washing machine and turns through 180 degrees to a landing, a bathroom with a full suite and a large double bedroom. This comfortable flat is ideal for a single person or a couple.
Flat Three
A super spacious Duplex apartment has a big lounge open to a well arranged fitted kitchen and good space for soft furnishings a dining table. The double bedroom on the 1st floor is a great size and to the second floor is another double bedroom with Velux windows and bathroom with a full suite. This is fantastic flat with lots of internal accommodation.
Gardens
The long lawned garden at the back of the house extends to a well maintained, raised BBQ and seating area.
Auctioneers Comments:
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.
Tenure : Freehold
Council Tax Band : A
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
Company Registration Number: 4179534
