Sold prior to auction, for an undisclosed amount

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By order of a major Housing Association

A freehold site of 1.12 acres including a modern 2 storey detached building arranged as 7 x self contained studio flats and an office suite that could be converted into an 8th, development potential, vacant.

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Description/Location

The property is accessed via a private driveway and the flats have good potential for rental income, we estimate the current rental values are £325 pcm per flat. The large site has development potential subject to planning.

Tenure

Freehold.
Energy Ratings: C

Accommodation

Ground Floor: 3 self contained flats, each with studio room, kitchen and bathroom. Office suite comprising 2 large rooms and bathroom, laundry room. First Floor: 4 self contained flats, each with studio room, kitchen and bathroom. Outside: Grounds of 1.12 acres.

Rent

ERV: £31,200 pa

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.