CALLING ALL INVESTORS - 72.8% YIELD...

Ashbrookes are thrilled to share this unique and rare 1 bedroom & ensuite room to the market, to be sold via Secure Sale online bidding. Terms & Conditions apply - starting bid £8,000

This building block (3-5) currently has 22 rooms within in, in the popular area of Thornaby, Stockton-On-Tees. All rooms are easily rented out with no void periods due to the locality; this building is directly next to Thornaby train station. The current rent achievable on this room is from 105pw-112pw. This 'classic' style room comprises of a bed and ensuite with a communal kitchen and gardens. The rent currently achieved PCM is £485.

Please contact us on[use Contact Agent Button] option 1 if you seek further information.

Measurements:
Bedroom 12'7" x 9'9" (3.84m x 2.97m)
Ensuite Bathroom 5'3" x 4'11" (1.6m x 1.5m)

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security, and certainty for all parties.

This room has 243 years left on the lease which commenced 30th September 2016. The ground rent is payable to Premier Ground Rents which the current vendor pays quarterly at an agreed amount of £145.62. On top of this the building has a service charge of £3030 for the year, the vendors owe £1,514.76 since 28th March.

This building on Mandale Road benefits from electric only with no on-site gas.

Auctioneers Comments:
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.