Lot 14 - Duplex Apartment, Palmers Elm, Hewish, North Somerset, BS24 6RN

  • Unconditional Online Auction Sale
  • Guide Price* : £49,000+
  • Bedrooms: 4

Lot 14 - Flats for Owner Occupation/Investment

Description

ONLINE AUCTION from 20th MAY - 22nd MAY

A spacious maisonette apartment with 4 bedrooms, kitchen, lounge, bathroom and attic.

Location: Close to amenities and a local college, appealing to both tenants and buyers. Located in Hewisham but located centrally just off J21 of the M5 and has great links to the west country, Bristol and Weston Super Mare.

Features like 2/3 large bedrooms, and a loft with conversion partially started to create more space!
The flat measures 102sqm.

Buy-to-Sell Opportunity there are no local comparable for apartments in the area and the Sqm of the apartment is similar in size to local properties below. A guide on local house prices below to give an idea what a large apartment would be worth post refurbishment.
Market Value Post-Modernisation: Agents suggest a resale value in excess of £179k, aligned with recent comparable sales in the area for a large duplex maisonette apartment.
7 Palmers Elm: £256,000(Semi Detached, Jan 2021)
2 Palmers Elm: £243,000 (Semi-detached, Sep 2015)

Rental opportunity – Refurbish and rent on the open market to a family; market rent would be £1275PCM
Refurbish and get planning for a 4 Bedroom HMO apartment £2740 PCM based on 4 rooms let at £685PCM. Meaning a yearly rent of £32,880
Refurbish and offer for short term lets would generate a guide figure of around £36,550 for a year.
All figures above are a guide and offer suggestions for best returns on renting out the maisonette apartment post refurbishment.

VIRTUAL TOUR

Council Tax Band

C

Tenancies

To be sold with vacant possession

Tenure

Advised Leasehold - 999 with £1 ground rent and share of 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 1.5% of the purchase price (subject to a minimum of £1,500) 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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Office Contact

Sean Roper

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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.

If considering a mortgage, we advise that you inspect and consider the property carefully with your lender before bidding.

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