Withdrawn

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Investment - A freehold building arranged as 7 self contained one bedroom flats.

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Description/Location

A former hotel which is now converted into 7 self contained 1 bedroom flats arranged over ground, first and second floors. The building is located in a most sought after position just off the shopping precinct at St Marychurch, and as such, is very popular with tenants. All the flats are currently let on assured shorthold tenancies producing over £33,000, along with a revenue earning laundry.

Tenure

Freehold

Local Authority

Torbay Council01803 201201www.torbay.gov.uk

Viewing

Please contact Haarer and Motts on 01803 322557

Accommodation

Ground floor: 2 x 1 bedroom flats First floor: 4 x 1 bedroom flats Second floor: 1 x 1 bedroom flat

Rent

Current rental value: £33,539.76 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.