Vendor: Executor

Freehold development opportunity comprising a pair of 4 storey, semi detached buildings (4066 sq ft) arranged as 4 x 2 bedroom duplex maisonettes (3 let, 1 vacant). Occupying a large site of 0.38 acres with potential for further development subject to planning.

Description/Location

The property is held in 4 titles to be sold as one lot, adjacent to the Thames and Severn Canal on the south eastern approach to Stroud. The maisonettes require refurbishment. There is good potential to add value to the existing properties and build additional dwellings on the large site, subject to the usual consents. The ground / lower ground floor Devonian maisonette is let on an AST at £450 pm. The upper maisonette is let on an AST with passing rent at £300 pm, the rent has been temporarily reduced because a ceiling in one room requires repair. The ground / lower ground floor Ulsterville maisonette is subject to a regulated tenancy, currently producing £425 pm, the upper maisonette is vacant. We refer bidders to the legal pack for a schedule of tenancies.

Tenure

Freehold

Viewing

Please contact Moore Allen on 01285 651831

Accommodation

Devonian: All floor areas quoted are sourced via the EPCs. Lower Ground / Ground Floor: Flat 1 - 103 sqm / Energy Rating F. Registered rent. First & Second Floor: Flat 2 - 97 sqm / Energy Rating F. Let on an AST. Ulsterville: Floor areas sourced from EPCs. Lower Ground & Ground Floor: Flat 1 - 102 sqm / Energy Rating G. Let on an AST. First & Second Floor: Vacant. Outside: Large site with development potential.

Rent

Current Rent: £14,100 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.