ONLINE AUCTION from 19th OCTOBER-21st OCTOBER
A substantial pair of semi-detached Victorian investment properties returning an income in the region of £50,000 per annum when fully let. Both of these properties retain many period features and have been substantially refurbished over the past few years.
Temple Lodge is an end of terrace property that has been converted into eight self contained flats, 5 one bedroom and 3 two bedroom. All eight flats have Worcester Bosch gas combi boiler central heating (not tested) and recently the property has had new double glazed windows installed resulting in EPC ratings of ‘C’ for all eight flats. The property also benefits from fire safety improvements throughout the building which includes a fully integrated fire alarm system covering the flats and communal areas. Currently, seven of the flats are let on ASTs and the eighth will be sold with vacant possession. In 2020/2021 with all flats let, the property rental return after agent fees was £28,473.
Alexandra house is attached to Temple Lodge, sharing a communal fire escape to the rear and has been converted into eight one bedroom flats. Three of the properties have gas central heating (not tested), two with Worcester Bosch Combi Boilers and one with a conventional gas boiler. Two flats have new panel heaters and one has conventional storage heaters (not tested). The two remaining flats require refurbishment. The whole building has had double glazed windows installed resulting in EPC ratings of ‘C’ for five flats and ‘D’ for the remaining three flats. The property also benefits from fire safety improvements throughout the building which includes a fully integrated fire alarm system covering the flats and communal areas. Currently five of the flats are let on ASTs with three being sold with vacant possession. In 2020/2021 with six flats let, the property rental return after agent fees was £ 21,018.
Both building are located close to the centre of the historic Spa Town of Llandrindod Wells, where a range of shops can be found in the town centre. The town has both primary and secondary schools, hospital, train and bus station, 2 supermarkets and a golf course. The whole area around Llandrindod Wells is noted for its stunning scenery and the range of outdoor activities on offer
Advised Freehold - to be verified by solicitor
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 £975) 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. 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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