Sold for £376,000

A freehold portfolio of 10 self contained flats (7x 2 bed, 2 x 1 bed, 1 x 3 bed) let on ASTs producing £47,340 pa (Flat 20 is vacant).

Description/Location

The flats comprise 2-20 (even numbers) Berwicke Road and are arranged on the ground and first floors. We are advised that 8 of the 10 flats have been refurbished, we refer bidders to the legal pack for a schedule of tenancies. We are advised thsat Flat 20 is vacant and ready for occupation. LHA rates are £97.81 pw (1 bed), £109.32 pw (2 bed) and £126.58 pw (3 bed) equivalent to £56,546 pa.

Tenure

Freehold

Local Authority

North Tyneside Council

Viewing

Network Auctions - 020 7871 0420

Accommodation

All floor areas via EPC. Flat 2 - GF, 70sqm, EPC: D. Rent £350 pm. Flat 4 - FF, 70 sqm, EPC: D. Rent £425 pm. Flat 6 - GF, 56 sqm, EPC: D. Rent £375 pm. Flat 8 - FF, 54 sqm, EPC: C. Rent £395 pm. Flat 10 - GF, 70 sqm, EPC: D. Rent £425 pm. Flat 12 - FF, 70 sqm, EPC: C. Rent £425 pm. Flat 14 - GF, 70 sqm, EPC: C. Rent £400 pm. Flat 16 - FF, 70 sqm, EPC: C. Rent £400 pm. Flat 18 - GF, 46 sqm, EPC: D. Rent £400 pm. Flat 20 - FF, 46 sqm, EPC: D. Vacant. ERV £425 pm. Outside: Yards to the rear.

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Virtual Tour 20 Berwick Road
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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.