RESIDENTIAL INVESTMENT PROPERTY - 3 FLATS & MEWS HOUSE
A substantial and well-presented corner property comprising four self-contained residential dwellings (three flats and one mews house), situated in a convenient location in St George. The property is fully-let producing £37,860 per annum and there is scope to increase the rental income to a figure in the region of £42,480 per annum. A superb and well-maintained residential investment property offering an excellent rental return.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 27 June 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
SUMMARY -
SOLD FOR £471,000 - WELL-PRESENTED BLOCK OF 3 FLATS & MEWS HOUSE IN ST GEORGE
DESCRIPTION -
A substantial and well-presented corner property comprising four self-contained residential dwellings (three flats and one mews house), situated in a convenient location in St George. The property is fully-let producing £37,860 per annum and there is scope to increase the rental income to a figure in the region of £42,480 per annum. A superb and well-maintained residential investment property offering an excellent rental return.
LOCATION -
The property is situated in a popular residential location in St George with excellent transport links provided to the city centre and Ring Road. A range of local amenities are available in St George, Kingswood and Hanham.
SCHEDULE OF ACCOMMODATION -
106 - Ground floor 1-bedroom/studio flat (approx. 26 m²).
106A - Ground & first floor 1-bedroom flat (approx. 46 m²)
106B - Two-bedroom mews house (approx. 74 m²).
106C - Ground floor 1-bedroom/studio flat (approx. 29 m²).
RENTAL DETAILS -
Each flat is let on an Assured Shorthold Tenancy agreement at the following rents (potential rents in brackets).
106 - £795 pcm (£795 pcm)
106A - £625 pcm (£850 pcm
106B – £940 pcm (£1,100 pcm)
106C - £795 pcm (£795 pcm)
TOTAL: £37,860 Per Annum (£42,480 Per Annum)
TENURE -
The property is for sale on a freehold basis, subject to the assured shorthold tenancies above.
ENERGY PERFORMANCE CERTIFICATES (EPCs) -
Ratings:
106 Nags Head Hill - D
106a Nags Head Hill - D
106b Nags Head Hill - D
106C Nags Head Hill - E
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
*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 - £150,000: £5,000
£151,000 and above: £10,000
If you 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 houra of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
