Lot 68 - Flats 1-8 East Lynne, Temple Street, Llandrindod Wells, Powys, LD1 5HG
- Unconditional Online Auction Sale
- Guide Price* : £296,000+
- Bedrooms: 11
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Addendum
Guide price reduction
Lot 68 - Residential Investment
Description
ONLINE AUCTION from 1st OCTOBER-3rd OCTOBER
Situated in the historic spa town of Llandrindod wells, an opportunity to purchase an investment property consisting of 8 self contained apartments located in a large Victorian property, situated in a terrace of 3 similar properties.
The property has undergone extensive refurbishment in the last few years, with all new wiring, central heating systems and decoration throughout. All apartments are currently let and based on the current for sale price, the property returns just over 9% income per annum.
Briefly the property comprises: Five one-bedroom flats and three two bedroom flats, all flats benefit from full central heating with individual electric boilers and radiators. All tenancies are by way off the new occupation contracts.
Llandrindod Wells has a mix of small independent shops, eateries and public houses, doctors, dentists, hospital with a small injury department, library, high school, two supermarkets, leisure centre, golf course, train, bus station and boating lake. The whole area around Llandrindod Wells is noted for its stunning scenery and the range of outdoor activities on offer.
Tenancies
The property is fully let -
Flat 1 - £350
Flat 2 - £260
Flat 3 - £321.91
Flat 4 - £260
Flat 5 - £350
Flat 6 - £260
Flat 7 - £450
Flat 8 – £350
Total per month at present £2630 = £31,560 per annum - the rents go up 1st November to £3030pcm = £36,360 per annum
Tenure
Advised Freehold - to be verified by solicitor
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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Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Conditional Auctions
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Conditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Related Documents
Auction Finance
As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
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