This property is no longer on the market
2 bedroom block of apartments
Key information
Property description & features
- Tenure: Freehold
For sale by unconditional online auction.
To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website tcpa.co.uk
INVESTMENT OPPORTUNITY - a superb opportunity to purchase 3 x flats and the freehold. All 3 flats are currently tenanted with a collective rental income of £1470 giving a fantastic ROI with a yield of approx. 10%
The Portfolio consists of:-
* Freehold of six flats but includes two residential flats - 1 bed ground floor flat (£475pcm) and top floor 2 bed flat (£525pcm).
* Leasehold 2 bed flat (£470pcm)
Freehold
The Freehold covers the freehold for flats 1 -6 Boulton Grange with its own annual income and this is currently being managed by a local Management Company on behalf of the vendor.
The vendor purchased the freehold in 2017 which included two residential flats (no.1 and no.5). No.1 is a 1 bed flat and is currently rented to a charity and has been for the last 6 years. The current rental for this flat is £475.00 . No. 5 is the top floor 2 bed flat (with balcony) and is currently being rented with a 12 month contract (November 2024). The current rent is £525pcm.
Leasehold
The leasehold flat (no.3) is currently let at £470.00 pcm on a rolling Contract. The lease is a 125 year lease from 4th August 1988 (90 years left) but effectively the freehold is being sold with this leasehold title should any amendment to the term be a preference.
Tenure
Freehold & Leasehold
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5% .+ VAT buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
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*DISCLAIMER
Property reference 245988. 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 Town & Country Property Auctions - Cheshire, Staffordshire and Shropshire.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on April 26, 2024
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:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
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
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