* FOR SALE BY ONLINE AUCTION *

CASH BUYERS 

GUIDE PRICE: £225,000

"Your particular attention is drawn to the following which the vendor specifically brings to your attention. You should consider these before deciding whether to bid in the auction."

1. Remediation required to the building in which the apartment is located namely Meridian Tower ["The Tower"].
2. The works required to the Tower are extensive. Defects arose whilst the Tower was being constructed and/or have arisen since the building was completed.
3. You should consider the defects and remedies identified in the auction pack.
4. A date for completion of the work is not known but could exceed six years.
5. The leaseholders disagree as to the best course for remediation. The vendor is represented by Walker Morris, solicitors via a conditional fee agreement.
6. The purchaser will be required to enter into a deed of assignment which transfers the vendors interest in the litigation to the purchaser.
7. An order will be required which is at the discretion of the court to substitute the purchaser within the ongoing litigation.
8. East West Insurance Company [EWIC] the warranty provider is in administration but its liabilities for insurance are being met by the Financial Services Compensation scheme pursuant to the warranty cover.
9. A policy response has recently been given to leaseholders in relation to the claim under the warranty and the current position is set out in the leaseholder's update of 27 October 2022 .
10. Each leaseholder will be obliged to make a contribution [yet to be determined] to the remediation works by way of an excess on the insurance policy.
11. Each leaseholder may be obliged to make a contribution to the remedial works if there is a shortfall in funds available to complete the works.
12. If the purchase vehicle to acquire the apartment is a limited company the controlling person will be required to enter into a deed of guarantee and indemnity.

Belvoir Swansea are pleased to offer the opportunity to acquire a 20th floor two bedroom apartment boasting breath taking panoramic views over Swansea Bay. 

Located within the iconic Meridian Tower, the apartments offers open plan living with two double bedrooms and two bathrooms. The property benefits from secure underground parking for one vehicle.

Entrance: Secure entrance providing access to storage cupboard housing hot water tank. Door to..

Open Plan Kitchen/Living Area: Floor to ceiling double glazed windows with juliet style balconies and panoramic views of Swansea Bay. Fitted kitchen with angled breakfast bar with integrated appliances and downlights. Dining and Sitting area with TV point. Wall mounted electric heaters.

Bedroom One: Double glazed window to front enjoying sea views. Wall mounted electric heater. Door to en-suite.

Walk-in Wardrobe: Range of fitted wardrobes.

En-suite: Three piece suite comprising low level wc, pedestal wash hand basin and walk-in shower closure. Partly tiled walls. Heated chrome towel rail. Downlights.

Bedroom Two: Double glazed window to front enjoying sea views. 

Bathroom: Three piece suite comprising low level wc, pedestal wash hand basin and panelled bath with shower attachment. Partly tiled walls. Tiled floor. Heated chrome towel rail. Downlights.

External: One secure underground parking spaces.

NOTE: Floor plan provided is from original developer.

Service Charge: £3663.25 approx per annum

Ground Rent: £225 pcm.

DISCLAIMER: 

We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but most satisfy themselves by inspection or otherwise as to their accuracy. No person in this firm’s employment has the authority to make or give any representation or warranty in respect of the property.

Belvoir and our partners provide a range of services to buyers, although you are free to use an alternative provider. For more information simply speak to someone in our branch today. We can refer you on to The Mortgage Advice Bureau for help with finance. We may receive a fee of £250 (incl VAT), if you take out a mortgage through them. If you require a solicitor to handle your purchase, we can refer you on to a number of local solicitors. We do not receive a fee if you use their services.

This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £4,800 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE ASKING PRICE. Bidders will be required to register in order to download the ‘legal pack’, if you choose to bid on the property you will be required to complete further identity checks for anti-money laundering purposes and provide card details before you are able to place a bid.

*Guide price - This is an indication of the seller’s minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

*Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.