SOLD FOR £575,000 - Six spacious self-contained one bedroom flats currently let and producing approximately £47,520pa. We would anticipate an annual return of circa £55,000 once all of the flats have been aligned with current market rent (some will require basic updating works to achieve the higher figures). All flats benefit from double glazing and electric central heating. An excellent buy to let opportunity for investors. A substantial investment property situated in a prominent location within easy reach of the Ministry of Defence (MOD), Rolls-Royce and Airbus. An excellent buy to let opportunity for investors.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 29 June 2023 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWING -
By appointment.
SUMMARY -
SOLD FOR £575,000 - 6 FLATS LET AT £47,520pa WITH SCOPE TO INCREASE TO £55,000pa
DESCRIPTION -
Six spacious self-contained one bedroom flats currently let and producing approximately £47,520pa. We would anticipate an annual return of circa £55,000 once all of the flats have been aligned with current market rent (some will require basic updating works to achieve the higher figures). All flats benefit from double glazing and electric central heating. An excellent buy to let opportunity for investors. A substantial investment property situated in a prominent location within easy reach of the Ministry of Defence (MOD), Rolls-Royce and Airbus. An excellent buy to let opportunity for investors.
LOCATION -
Situated in a highly-convenient location on Filton Avenue, just off the A4174, excellent access is provided to local amenities and transport links.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
FLAT 1 - £545pcm -
Ground floor flat comprising Kitchen/Diner, Bedroom and Bathroom.
FLAT 2 - £775pcm -
Ground floor flat comprising Lounge, Bedroom, Bathroom and separate Kitchen.
FLAT 3 - £800pcm -
Ground floor flat comprising Lounge, Bedroom, Bathroom and separate Kitchen.
FLAT 4 - £545pcm -
First floor flat comprising Lounge, Bedroom, Bathroom and separate Kitchen.
FLAT 5 - £495pcm -
First floor flat comprising Lounge, Kitchen, Bedroom and Bathroom.
FLAT 6 - £800pcm -
First floor flat, unable to access flat at time of inspection.
TENANCY DETAILS -
All flats are currently let on Assured Shorthold Tenancy agreements producing approximately £3,935pa with an annual income of £47,220pa.
There is scope to increase these rents.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATES -
Ratings:
Flat 1: F
Flat 2: D
Flat 3: D
Flat 4: E
Flat 5: D
Flat 6: D
TENURE -
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (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.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,500 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
