This property is no longer on the market
1 bedroom apartment
Key information
Property description & features
- Tenure: Leasehold (118 years remaining)
- FOR SALE BY PUBLIC AUCTION
- MONDAY 16TH OCTOBER 2023
- GROSS YIELD OF 19.76% PA AT THE GUIDE PRICE
- CURRENTLY ACHIEVING £7908 PA, LET ON A 51-WEEK BASIS
- Student-Let Apartment
- Excellent Town Centre Location
- 'Hands Off' Investment Opportunity
- On-Site Concierge And Facilities
- Close To Keele University
- Already Let For The Next Academic Year
APARTMENT 34 ALSO AVAILABLE AT THE SAME AUCTION FOR THE SAME GUIDE PRICE.
An excellent investment opportunity to purchase a purpose-built studio student apartment, which is to be sold with a tenant in-situ!
Situated in a prime town centre location and close to Keele University, Keele House is a fantastic development of studio apartments. Communal facilities including a gymnasium, laundry room and reception areas are available, with lift access to all floors.
The apartment itself consists of an open plan living area with space for a wardrobe, double bed and desk, as well as a kitchenette with an integrated microwave, double electric hobs and wall and base units. There is also an en-suite shower room which completes the accommodation.
The property currently achieves a total rent of £7908 per year, occupied on a 51-week basis, giving a gross yield of 19.76% at the current guide price! This 'hands off' investment opportunity also benefits from an on-site concierge and management team who specialise in student letting, making this an ideal buy to let investment!
Please contact butters john bee for further information and to arrange your viewing!
We also offer remote bidding via internet, telephone or proxy meaning that you can bid from the comfort of your own home. Pre-registration is required, please call the auction team on[use Contact Agent Button] to register to bid remotely.
Common Auction Conditions
This property is sold subject to our Common Auction Conditions (a copy is available on request)
Buyers Administration Fee
A buyer’s administration fee of £1,200 including VAT is applicable to this lot. The purchaser will pay the fee whether the property is bought before, at or following the auction date
Legal Pack
Purchasing a property at auction is a firm commitment that carries the same legal implications as a signed contract by private treaty. It is important that you consult with your legal adviser before bidding and also your accountant regarding the impact of VAT, if applicable, on the sale price. The legal pack can be viewed online via our website Legal packs can also be viewed at the selling office. These documents should be passed to your legal adviser as they will help you make an informed decision about the lot. If you need further legal information please contact the vendor’s solicitor whose details will be in the auction catalogue. Remember that you buy subject to all documentation and terms of contract whether or not you have read them
Viewings
To view this lot, please contact the selling office
Internet, Telephone & Proxy Bidding
Interested in this lot but can’t attend the auction? You can bid by internet, telephone or by proxy by pre-registering with our auction department on or email . Further details are available in the catalogue
Addendum
Check the latest addendum at buttersjohnbee.com for any alterations or changes to the catalogue
Guide Price
An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction
Reserve
The sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction
Proof of Identity
To comply with Money Laundering Regulations, on acceptance of an offer for purchase or letting, the buyer or prospective tenant will be required to provide identification to Butters John Bee. Where a property is due to go to auction, all bidders will be required to register prior to auction
Rooms
Communal Entrance Reception
A communal entrance reception with access to lifts, communal areas such as a gymnasium, laundry and lounge.
Open Plan Living Area 18'9" x 15'7" (5.74m x 4.77m)
Laminate flooring, six UPVC double glazed windows to two aspects, electric heater.
Kitchen Area
Stainless steel sink, double electric hobs, integrated microwave, wall and base units.
Ensuite 6'0" x 4'4" (1.85m x 1.33m)
Vinyl flooring, ceiling light point, extractor fan, W/C, wash basin, shower cubicle, part tiled walls.
Disclaimer
Butters John Bee Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering renting your property in order to purchase, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above.
Butters John Bee Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.
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*DISCLAIMER
Property reference BJB090305880. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by butters john bee - Newcastle-under-Lyme.
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Broadband availability and predicted speed: obtained from Ofcom on January 11, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
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Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on January 11, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on December 22, 2016 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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