A top flor one-bedroom flat in need of some updating, situated in a convenient location just off Locking Road in Weston-super-Mare. The property presents an ideal rental investment with a potential rental income of £9,540 per annum or would suit first time buyers looking to take their first step onto the property ladder.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 17 October 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment
SUMMARY -
TOP FLOOR ONE-BEDROOM FLAT - IDEAL BUY TO LET INVESTMENT
DESCRIPTION -
A top floor one-bedroom flat in need of some updating, situated in a convenient location just off Locking Road in Weston-super-Mare. The property presents an ideal rental investment with a potential rental income of £9,540 per annum or would suit first time buyers looking to take their first step onto the property ladder.
LOCATION -
The property is situated on Swiss Road off Locking Road. Easy access is available to the centre of Weston-super-Mare and the seafront, and excellent transport links are provided to the M5.
ACCOMMODATION -
A top floor flat comprising a living room, double bedroom, kitchen and bathroom.
Please refer to floorplan for approximate room measurements and internal layout.
RENTAL POTENTIAL -
We would anticipate a market rent in the region of £795 pcm (£9,540 per annum) following cosmetic updating.
COMPLETION -
Completion for this lot will be 6 weeks from exchange of contracts or sooner by mutual agreement.
TENURE -
The property is to be sold on the residue of a 999 year lease with vacant possession.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D
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.
