For Sale by Auction
Start 30th April - Bidding opens 24 hours prior

Investment opportunity for 5 flats - to be sold as one transaction, which are fully let, generating £1485 Per Calendar month which would create a gross return on investment of over 13% at the guide price.

Each flat has its own utility supplies and entrance - two are on the ground floor and three are on the first floor accessed via a communal hallway. To the rear of the property there is a good sized carpark which would provide ample parking for the tenants of the property.

The lister has inspected (And Recently Let) 2 of the apartments. They are in good condition, presented in neutral decoration throughout. The photographs shown are from flats C and D.

The seller does not own the freehold of the property, however has recently commenced proceedings to assume the freehold from the currently registered freehold, and has acted as freeholder during his ownership of the leasehold by maintaining the structure of the building and outside spaces etc. The Leases were granted in August of 2008 for 125 years.

Flat A - 2 Bedroom Ground floor Flat £310 PCM
Flat B - 2 Bedroom Ground floor Flat £250 PCM
Flat C - 2 Bedroom First floor Flat £350 PCM
Flat D - 1 Bedroom First Floor Flat £325 PCM
Flat E - 2 Bedroom First Floor Flat - £250 PCM

All of the flats are rated having a Council Tax Banding of A

Flat A EPC RATING D
Flat B EPC RATING C
Flat C EPC RATING D
Flat D EPC RATING C
Flat E EPC RATING D

The property lies right next to a bus stop so is ideal for any single person or couple working, whilst the village of Evenwood has a selection of shops and amenities close at hand such as a Convenience sized supermarket, some beauty and health shops, car maintenance garage, and a primary school close by.

The seller is also adding a clause that the buyer will pay £500 PER FLAT towards legal costs.

Disclaimer 1
None of the services have been tested.
Measurements, where given, are approximate and for descriptive purposes only. Boundaries cannot be guaranteed and must be checked by solicitors prior to exchanging contracts. The details are provided in good faith, are set out as a general guide only and
do not constitute any part of a contract. No member of staff has any authority to make or give representation or warranty in relation to this property. For sale by auction see
Disclaimer 2
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide 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. The successful buyer pays a £2000+vat (total £2400) Auction Administration Fee. At your request we can refer you to a North East based Solicitor from our panel. It is your decision whether you choose to deal with them, should you decide to use them you should know that we would receive a referral fee of £120 including VAT from them for the recommendation.

Disclaimer 3
Details of the tenure will be available in the legal pack, however we recommend all potential buyers take legal advice and satisfy their requirements prior to purchase.