Lot 90 - Flats C & D, 140 Commercial Road, Newport, NP20 2PJ

  • Unconditional Online Auction Sale
  • Guide Price* : £70,000+

Lot 90 - Residential Investment

Description

ONLINE AUCTION from 30th AUGUST-1st SEPTEMBER

An opportunity to acquire two flats that are currently let. The flats are situated in the bustling commercial road area of Newport and ideal for access to Newport city centre and good road links to the M4 motorway.

The flats were previously rented for £9,300 per annum although it is anticipated that these could achieve more in the current market.

Council Tax
The flats are not listed on the Government website but neighbouring properties are a Band A

Accommodation

Please note internal inspection was not carried out by auctioneers however we believe it comprises:
Flat C Entrance, lounge, kitchen, bathroom, bedroom
Flat D: Entrance, lounge, kitchen, bathroom, bedroom

Lease Start Date

01/11/1990

Lease Duration

99 years (67 years unexpired)

Tenancies

Please Note:One of the flats is currently tenanted. Section 21 has been served and court proceedings have started, and therefore we cannot guarantee vacant possession.

INVESTORS: If you are looking for assistance in tenant find and/or management packages, information on rental income/interest potential we have a Lettings Department that can help you. Please call us on 01633 746800 or email rhys@paulfoshlettings.com for invaluable advice.

Tenure

Advised Leasehold - 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 £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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Paul Fosh Auctions
01633 254044

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