- FOR SALE BY MODERN METHOD OF AUCTION
- MODERN FIRST FLOOR STUDIO APARTMENT
- SHOWER ROOM WITH WALK IN WARDROBE
- ELECTRIC STORAGE HEATING
- ALLOCATED PARKING
- IDEAL INVESTMENT
- ANNUAL RENTAL YIELD 9.80% PA
West Heath Nursery School (0.4mi.)
Turves Green Girls' School (0.4mi.)
Wychall Primary School (0.5mi.)
AUCTIONEERS COMMENTS This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% to a minimum of £6,000.00 including VAT 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of £6,000.00 including VAT. which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department.
Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction powered by IAM Sold. (Reservation Fee is in addition to the final negotiated selling price.)
ANNUAL YEILD This flat presents a fantastic opportunity for potential investors or landlords with a yield of around 9.80%
SUMMARY DESCRIPTION This Modern first floor purpose built studio apartment with communal gardens and allocated parking. Access to the apartment is via secure entrance doors into a communal hallway with stairs to First Floor and to Entrance door opening to the living area with double glazed bay window to rear elevation, electric storage heater and doorways to Kitchen with double glazed window to side elevation stainless steel sink with drainer, cupboard housing below, roll top work surface, complimentary tiling to splash prone areas, plumbing for automatic appliance and storage cupboard housing hot water tank. Walk in wardrobe with access to loft and further doorway into Shower room with enclosed shower cubicle with electric shower, vanity unit with hand wash basin inset, close couple wc and extractor fan inset to ceiling.
Old Bank Top is situated in a cul de sac position on the popular Rea Valley Drive estate in a popular residentional area of Northfield, West Heath and is within easy access to local schools, and public transport.
LIVING AREA 8' 10" x 14' 09" (2.69m x 4.5m)
KITCHEN 5' 10" max x 8' 06" max (1.78m x 2.59m)
WALK IN WARDROBE 3' 11" x 8' 07" (1.19m x 2.62m)
SHOWER ROOM 4' 03" x 8' 06" (1.3m x 2.59m)
TENURE - LEASEHOLD The seller has advised that there is approximately 80 unexpired years left on the lease.
Service charge & Ground Rent - £20 per annum
Consumer Protection from Unfair Trading Regulations 2008
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. References to the tenure of a property are based on information supplied by the seller. The Agent has not had sight of the title documents. A buyer is advised to obtain verification from their solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.
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