Lot 5 - 3 The Promenade, Swansea, West Glamorgan, SA1 6EN

  • Unconditional Online Auction Sale
  • Guide Price* : £194,000 +
  • Bedrooms: 6

Lot 5 - Residential Investment

Description

ONLINE AUCTION from 14th MAY-16th MAY

A deceptively spacious 3 storey mid terraced HMO property situated in a pleasant street with views across Swansea and Swansea Bay. The property is currently arranged as 2 self- contained flats (6 bed HMO license) both with separate utilities – one with two bedrooms and one with four bedrooms, along with two kitchens and two bathrooms. There is a courtyard area with rear and side access leading to the front and a ground floor room. The tenants are paying £450 per room per calendar month – an income of £32,400 per annum. The HMO Licence is valid until 16/5/2026 (see legal pack).

Swansea is seeing extensive regeneration and is a fantastic investment area due to the businesses and students in the area (Swansea University). Excellent commuter links via the M4 and rail. Swansea is the second largest City in Wales. Gower was the first place in Britain to be named an Area of Outstanding Natural Beauty (AONB). With cliffs and woodlands ringed by sparkling beaches, the Gower peninsula is so adored by walkers, birdwatchers, sunbathers and surfers, this 70-square-mile (180sq km) paradise has been scooping awards ever since. The dramatic landscape of the Gower Peninsula must be seen to be believed. There are numerous attractions to enjoy in this remarkable outcrop of land. Three Cliffs Bay is regularly voted one of the most dramatic locations in Britain, requiring a 20 minute walk to reveal its true splendour. The huge sweep of Rhossili Bay, featuring the broad expanse of Llangennith Beach is equally awe-inspiring - it's as if you’ve reached the furthest point of land on the planet.

VIRTUAL TOUR

Accommodation

Ground Floor - self contained flat: 2 bedrooms, kitchen, bathroom, vacant room
First and Second Floor - self contained flat: 4 bedrooms, kitchen, bathroom
Outside:Rear Courtyard with rear and side access

Council Tax Band

D

Tenancies

To be sold with vacant possession

Tenure

To be sold with tenants in situ
The property is let at £2,700 pcm (£32,400 p/a)

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £1,200) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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