SOLD PRIOR. A self-contained studio flat situated on the first floor of this impressive period building close to the seafront in Weston-super-Mare. The property was previously let producing £5,580 per annum and is now offered for sale with vacant possession. There is scope to increase the rental income by carrying out a light refurbishment making this an excellent investment opportunity.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 23rd September 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
A self-contained first floor studio flat, situated in a converted period building in Weston-super-Mare. The property benefits from a good-sized living space, separate kitchen, shower room and utility room, has an intercom entry system and is accessed via a lift within the building. Having been let until July 2021 at £465 pcm (£5,580 per annum), the property offers a fantastic rental yield with potential to increase the rent through a basic programme of refurbishment.
The property is situated on Manilla Crescent off Birnbeck Road within 150m of the seafront in Weston-super-Mare. Easy access is provided to a wide range of amenities and excellent transport links are provided to Bristol and the South West via the M5 motorway.
Please refer to floorplan for approximate room measurements and internal layout.
FIRST FLOOR FLAT -
Comprising a good-sized living space, separate kitchen with fitted base units, a shower room and utility room.
We are informed by the vendor that the property is offered for sale on the residue of a 999 year lease dated 11 November 2013.
SERVICE CHARGE -
We are informed by the vendor that the annual service charge is circa £850 per annum, which includes the buildings insurance.
COUNCIL TAX BAND -
ENERGY PERFORMANCE CERTIFICATE -
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 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 cheque/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 (£1,200 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.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.