Vendor: Housing Association

A spacious 1 bedroom first-floor flat (approx. 581 sq.ft.) forming part of a small, purpose-built block. The flat will benefit from cosmetic refurbishment. Vacant.

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Description/Location

Situated in the town centre, close to a wide range of local amenities. We estimate the rental value is £600+ pm.

Tenure

Leasehold: 125 years from 01/01/2001

Local Authority

Isle of Wight Council

Viewing

Network Auctions - 020 7871 0420

Accommodation

First floor: Entrance hall, living room, kitchen, bedroom, bathroom

Rent

ERV: £7200 pa

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Legal documents

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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.