7 bedroom serviced apartment for sale

A Freehold investment opportunity to purchase what was a former care home, which has been converted into two 1 bedroom apartments and five studio apartments.

The portfolio has an income of approximately £5,169 per month (£62,028 per annum) - this income can vary due to there being a mix of tenancies, some are used as emergency accommodation for the local authority, private tenants and Airbnb.

Flat 11st Floor32m2EPC: D
Flat 21st Floor36m2EPC: D
Studio 1Ground Floor25m2EPC: E
Studio 2Ground Floor25m2EPC: E
Studio 3Ground Floor23m2EPC: E
Studio 4Ground Floor35m2EPC: E
Studio 5Ground Floor20m2EPC: E

For council tax purposes each of the apartments attracts the lowest council tax rating band A.

Outside:
To the front there is a residents parking area.

Situation:
Donnington has various amenities including an Asda Superstore and various other shops. Telford town centre has a wide range of recreational and shopping facilities, including the Telford Town Park, Southwater development, and good transportation links via the M54 motorway and the town’s central railway station

IMPORTANT:
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.80% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy. The cost of these checks is £48 (incl. VAT), unless purchasers are in receipt of a gifted deposit of £10,000 or more, in which case the cost of the checks, to include checks on the gifting party (ies) is £52 (incl. VAT) which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable.” We do not receive any of the fee taken by Lifetime Legal for its role in the provision of these checks. We will also require confirmation of where the funding is coming from such as a bank statement with funding for deposit or purchase price and if mortgage finance is required a mortgage agreement in principle from your chosen lender.

Important
We take every care in preparing our sales details. They are carefully checked, however we do not guarantee appliances, alarms, electrical fittings, plumbing, showers, etc. Photographs are a guide and do not represent items included in the sale. Room sizes are approximate. Do not use them to buy carpets or furniture. Floor plans are for guidance only and not to scale. We cannot verify the tenure as we do not have access to the legal title. We cannot guarantee boundaries, rights of way or compliance with local authority planning or building regulation control. You must take advice of your legal representative. Reference to adjoining land uses, i.e. farmland, open fields, etc does not guarantee the continued use in the future. You must make local enquiries and searches. We currently work with a number of recommended conveyancing partners and we currently receive a referral fee of up to £300 for each transaction.

Council Tax Band: A
Tenure: Freehold