5, Greenfield Place, Weston-Super-Mare, BS23 2BB

Auction Guide £525,000 - For Sale

  • 17 October LIVE ONLINE AUCTION
  • Substantial and attractive four storey period building
  • Arranged as 5 self-contained flats
  • Potential rental income of circa £56,340 PA
  • Superb location close to Weston seafront
  • 8-week completion

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An attractive and imposing four storey end of terrace period building arranged as five self-contained flats (2 x 3-bedroom flats, 1 x 2-bedroom flat and 2 x 1-bedroom flats). The property is to be sold partially tenanted and offers a potential rental income of circa £56,340 per annum following some internal updating. There is a parking space to the rear and the property is within easy walking distance of the seafront in Weston-super-Mare. A superb residential investment or potential break-up opportunity.

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 17 17 October 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWINGS -

By appointment

SUMMARY -

FOUR STOREY BLOCK OF 5 FLATS NEAR WESTON SEAFRONT

DESCRIPTION -

An attractive and imposing four storey end of terrace period building arranged as five self-contained flats (2 x 3-bedroom flats, 1 x 2-bedroom flat and 2 x 1-bedroom flats). The property is to be sold partially tenanted and offers a potential rental income of circa £56,340 per annum following some internal updating. There is a parking space to the rear and the property is within easy walking distance of the seafront in Weston-super-Mare. A superb residential investment or potential break-up opportunity.

LOCATION -

The property is situated on Greenfield Place, close to the seafront in Weston-super-Mare. Hampton Road public car park is located directly to the rear of the building and easy access is provided to a wide range of amenities in the town centre.

SCHEDULE OF ACCOMMODATION/RENTAL DETAILS -

FLAT 1: A one-bedroom lower ground floor flat - Currently vacant / Potential rent of £750 pcm
FLAT 2: A one-bedroom lower ground floor flat with parking - Currently let at £695 pcm / Potential rent of £750 pcm
FLAT 3: A two-bedroom hall floor flat - Currently let at £795 pcm / Potential rent of £895 pcm
FLAT 4: A three-bedroom first floor flat - Currently vacant / Potential rent of £1,100 - £1,150 pcm
FLAT 5: A three-bedroom first floor flat - Currently vacant / Potential rent of £1,100 - £1,150 pcm

COMPLETION -

Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.

ENERGY PERFORMANCE CERTIFICATE (EPC) -

Ratings:
Flats 2, 4 & 5 - D

TENURE -

The property is for sale on a freehold basis, subject to the above tenancies.

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

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,500 plus VAT (£1,800 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 - £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 (£1,800 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 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.

Floorplan for Greenfield Place, Weston-Super-Mare