Boulton Grange
Ref: Lot 10
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Unconditional (Buyer's Premium)
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5% .+ VAT buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
Boulton Grange, Boulton Grange, Telford, Shropshire, TF3 2LA
🏘️INVESTMENT OPPORTUNITY 🏘️- a superb opportunity to purchase 3 x flats and the freehold. All 3 flats are currently tenanted with a collective rental income of £1470 giving a fantastic ROI with a yield of approx. 10%
🏘️INVESTMENT OPPORTUNITY 🏘️- a superb opportunity to purchase 3 x flats and the freehold. All 3 flats are currently tenanted with a collective rental income of £1470 giving a fantastic ROI with a yield of approx. 10%
Description
The Portfolio consists of:-
* Freehold of six flats but includes two residential flats - 1 bed ground floor flat (£475pcm) and top floor 2 bed flat (£525pcm).
* Leasehold 2 bed flat (£470pcm)
Freehold
The Freehold covers the freehold for flats 1 -6 Boulton Grange with its own annual income and this is currently being managed by a local Management Company on behalf of the vendor.
The vendor purchased the freehold in 2017 which included two residential flats (no.1 and no.5). No.1 is a 1 bed flat and is currently rented to a charity and has been for the last 6 years. The current rental for this flat is £475.00 . No. 5 is the top floor 2 bed flat (with balcony) and is currently being rented with a 12 month contract (November 2024). The current rent is £525pcm.
Leasehold
The leasehold flat (no.3) is currently let at £470.00 pcm on a rolling Contract. The lease is a 125 year lease from 4th August 1988 (90 years left) but effectively the freehold is being sold with this leasehold title should any amendment to the term be a preference.
Tenure
Freehold & Leasehold
Buyers Premium
* Plus 5% Buyers Premium + VAT
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer’s Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
Council Tax Band
A
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
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- Buyers are advised to refer to individual terms and conditons, relevant legal pack and are not to rely on details or videos provided by the agent as statement of fact on the basis on proceeding with a sale
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