Unsold -Refer to Auctioneer

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An attractive freehold building comprising 6 x 1 bedroom and 2 x studio apartments, let producing £50,220 pa.

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Description/Location

Situated just off the seafront in a sought after road overlooking Caffyns Field open space. The 8 apartments are individually let on assured shorthold tenancies and are all presented in good order, we believe there is an opportunity to increase rents in line with market rates. The property has been re-roofed, is double glazed provides parking to the front and rear.

Tenure

Freehold. Auctioneers Note: If the lot is sold we will not offer Flats 1 - 8 as individual lots.

Joint Agent

Please contact Elliott Network Auctions on 01923 240420

Local Authority

Accommodation

Ground Floor: Flat 1- large studio with separate kitchen area and bathroom, let producing £525 pcm. Flat 2 - private entrance, living room, bedroom, kitchen, wet room, let producing £540 pcm. Flat 7 - private entrance, living room, kitchen, bedroom, bathroom, let producing £525 pcm. First Floor: Flat 3 - large studio with separate kitchen and bathroom, let producing £495 pcm. Flat 4 - split level with living room, kitchen area, bedroom and bathroom, let producing £525 pcm. Flat 8 - living room, kitchen area, bedroom, bathroom, let producing £525 pcm. Second Floor: Flat 5 - living room, separate kitchen area, bedroom, newly installed shower room. Flat 6 - living room, separate kitchen, bedroom, bathroom, let producing £525 pcm.

Rent

Current Rental Value: £50,220 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.