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ONLINE AUCTION from 1st FEBRUARY-3rd FEBRUARY
Located in the town of Ebbw Vale this property would make the ideal investment.
The property is comprised of two, x2 bedroom flats and one, x1 bedroom flat, all of which have been renovated to a high spec. The property has had complete electrical rewire, complete new gas heating system (not tested) and fully fitted kitchens as part of the refurbishment, which occurred 12 months ago. The utilities are separate so the property lends itself to a title split to be 3 individually saleable units rather than one freehold block. All flats are currently tenanted and have good rental history. Based on our guide price and the current rental income, this property achieves a 10.2% yield.
*** PLEASE NOTE THAT THE VENDOR IS SELLING THIS PROPETY AS PART OF A PORTFOLIO . THEREFORE IF LOT 25 SELLS THEN THIS LOT WILL BE WITHDRAWN EVEN IF BIDDING HAS COMMENCED, THE RESERVE HAS BEEN MET OR BIDDING HAS NOT YET CLOSED ***
The tenancy schedule is as follows: ;
Floor | Description | Rent |
---|---|---|
Ground Floor | Flat 1 | £450 pcm |
First Floor | Flat 2 | £525 pcm |
Second Floor | Flat 3 | £495 pcm |
Monthly Total | £1,470 pcm | |
Annual Total | £17,640 pa |
To the rear of the property is parking for approximately two cars.
All three flats are tenanted and have AST agreements
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/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.
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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