1 bedroom serviced apartment

INVESTMENT ONLY - NOT ABLE TO BE LIVED IN

A fantastic opportunity to purchase a one bedroom self contained property in the popular City Suites Apart Hotel on Chapel Street, Salford.

Located a few minutes walk from Deansgate, Victoria Station & Manchester Arndale it's location is popular with short stay clients.

Fully managed and looked after by the building operators who take care of the reservations, resident queries, cleaning, laundry and pass on the income to the owner minus service charges etc its the perfect handsoff investment.

With fantastic resident amenities on site such as gym, swimming pool and restaurant it proves to be a popular destination for travellers.

For the year to September 2024, nett income after all costs was £5,123.

Running / Service Charge Costs Are £8715

In effect the property is therefore earning an income of £13,838 gross.

Auctioneer Comments

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £349 including VAT towards the

preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you