A fantastic opportunity for cash investors to acquire a well-presented two-bedroom first floor apartment which is already producing an immediate rental income of £850 per calendar month (£10,200 per annum).
Key Features
CASH INVESTMENT OPPORTUNITY
TENANTED AT £850 PCM (£10,200 PER ANNUM)
TWO BEDROOM FIRST FLOOR APARTMENT
APPROX. 9%+ GROSS YIELD AT GUIDE PRICE*
LEASEHOLD TENURE
OPEN PLAN LOUNGE, DINING & KITCHEN
EN-SUITE TO MAIN BEDROOM
ALLOCATED PARKING SPACE & VISITOR PARKING
WELL PRESENTED THROUGHOUT
IDEAL ADDITION TO A BUY TO LET PORTFOLIO
The property is being sold with a tenant in situ, providing an instant income stream from completion without the expense or delay of sourcing a tenant. Based on the guide price, the property offers an attractive gross rental yield of approximately 9%+ (buyers should make their own calculations based on their purchase price).
The accommodation briefly comprises an L-shaped entrance hall, two bedrooms, an en-suite shower room to the principal bedroom, a separate bathroom, and a spacious open plan lounge, dining area and fitted kitchen. The apartment benefits from UPVC double glazing, electric heating and an allocated parking space together with visitor parking.
This is an ideal addition to an existing buy-to-let portfolio or a straightforward investment opportunity for those looking to generate immediate rental income.
Directions
From Burslem Town Centre proceed along Newcastle Street (B5051) and turn left at the roundabout onto Woodbank Street. Take the second right into Navigation Road and continue to the second turning on the right, following the road around to Woodbank View.
Postcode for Sat Nav: ST6 3EY
Accommodation
Secure Communal Entrance
Secure communal entrance with staircase leading to the first floor apartment.
Entrance Hall
L-shaped entrance hall with electric radiator and consumer unit.
Bedroom One
13'1" x 8'3" (3.99m x 2.51m)
Window to the front elevation, electric radiator and door leading to:
En-Suite
7'4" x 5'8" (2.24m x 1.73m)
Fitted with a shower cubicle incorporating a Triton Cara electric shower, low level WC and wash hand basin.
Bedroom Two
9'3" x 9'0" (2.82m x 2.74m)
Window to the front elevation and electric radiator.
Bathroom
7'2" x 5'7" (2.18m x 1.70m)
Comprising a panelled bath, low level WC and wash hand basin.
Kitchen
8'10" x 5'8" (2.69m x 1.73m)
Fitted with a range of base and wall units incorporating work surfaces and sink unit. Open plan to the living area.
Lounge/Dining Room
19'3" x 10'1" (5.87m x 3.07m)
A spacious open plan living space with windows to the front and rear elevations, electric radiator and designated dining area.
Outside
The apartment benefits from one allocated parking space together with additional visitor parking, subject to availability.
Gross yield is based on the current passing rent and will vary depending on the final purchase price. Purchasers should satisfy themselves as to the investment return prior to exchange of contracts.
Leasehold
* Plus 5% Buyers Premium + VAT
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.
Each Lot is sold in its existing condition and state of repair. Buyers are deemed to have inspected the Property and satisfied themselves as to its condition, structure and suitability prior to bidding. Town & Country Property Auctions gives no warranty or guarantee as to the condition, structure, construction, repair or suitability of any Property, or the working order of any fixtures, fittings, services, heating systems or appliances included in the sale. No objection, claim or recourse shall be made against Town & Country Property Auctions in respect of these matters. Purchasers requiring mortgage finance or other funding are advised to arrange this prior to the auction and should satisfy themselves that the Property meets their lender's requirements. Material information relating to the Property will be provided within the Legal Pack. To download the Legal Pack, please visit tcpa.co.uk.
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.
TENANTED AT £850 PCM (£10,200 PER ANNUM)
TWO BEDROOM FIRST FLOOR APARTMENT
IDEAL ADDITION TO A BUY TO LET PORTFOLIO
B
18/04/2012
125 years (110 years unexpired)
£2,104
* 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.
Viewing: Due to the nature and condition of auction properties, the auctioneers highlight the potential risk that viewing such property carries and advise all to proceed with caution and take necessary requirements to ensure their own safety whist viewing any lots offered. Viewings are conducted entirely at the potential buyers own risk, these properties are not owned or controlled by Town & Country Property Auctions and the auctioneers will not be held liable for loss or injury caused while viewing or accessing the lot. Due to the nature of some auction properties, electricity may not be turned on, therefore viewing times are restricted. Viewers will need to bring their own lighting/ ladders if wanting to inspect cupboards, cellars and roof spaces. Some viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Town & Country Property Auctions will not be liable for any costs or losses incurred due to viewing cancellations or no shows.
All auctioneer fees and deposits stated are non-refundable. The deposit will be applied toward the final purchase price. Auctioneer fees, while not contributing to the purchase price, will still be included in the total chargeable consideration of the property when calculating Stamp Duty Land Tax, Land Transaction Tax, or Land and Buildings Transaction Tax (as applicable depending on whether the property is located in England, Wales, or Scotland).
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