Lot 10 - 50 Alexandra Road, Newport, Gwent, NP20 2JF

  • Unconditional Online Auction Sale
  • Guide Price* : £351,000 +

Lot 10 - Block of Flats for Investment

Description

ONLINE AUCTION from 4th - 6th OCTOBER

An excellent opportunity to purchase a substantial block of nine self contained flats. 6 x 1 bedrooms self contained flats and 3 x 1/2 bedroom self contained flats. On each floor there is 2 x 1 bedroom flats and 1 x 1/2 bedroom flats, all with gas central heating. There are 2 small courtyard areas. Each flat to be sold with tenant in situ with a total rental income of £42,000 per annum, with potential for rent increases on every flat. The area of Pill provides a good selection of shops and cafes whilst the main town of Newport with its railway station is a short distance away as is the Royal Gwent Hospital. There are excellent commuter links via the M4

Newport (Welsh: Casnewydd) is a city and county borough in Wales, situated on the River Usk, 12 miles (19 kilometres) northeast of Cardiff. Newport is the third-largest city in Wales. Newport has been a port since medieval times when the first Newport Castle was built by the Normans. Latterly its economy is bolstered as part of the M4 corridor high-technology cluster. It was granted city status in 2002. Newport hosted the Ryder Cup in 2010 and was the venue for the 2014 NATO summit. It contains extensive rural areas surrounding the built-up core. Its villages are of considerable archaeological importance.

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Accommodation

Ground Floor:
2 x one bedroom flats each with lounge, kitchen and bathroom, 1 x 1/2 bedroom flat with lounge, kitchen and bathroom
Communal hallway

First Floor:
2 x one bedroom flats each with lounge, kitchen and bathroom, 1 x 1/2 bedroom flat with lounge, kitchen and bathroom

Second Floor:
2 x one bedroom flats each with lounge, kitchen and bathroom, 1 x 1/2 bedroom flat with lounge, kitchen and bathroom

Outside:
Two small courtyard areas

Council Tax Band

A

Tenancies

The 9 flats are let on assured shorthold tenancies at £42,000 pa

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 or email rhys@paulfoshauctions.com for invaluable advice.

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 £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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