A high yielding investment property comprising 5 self-contained flats.
Currently let at £33,024 per annum the property offers an attractive yield of circa 10% based on the guide price. Arranged 4 x 1 bed and 1 x 2 bed self-contained flats the property offers excellent rental potential. Once modernised the property offers opportunity to grow the rental income or sell the flats individually with a potential Gross Development Value of in excess of £550,000.
Ground Floor: Flat 3 – bay fronted 1 bedroom flat with courtyard garden. 36 sqm. Council Tax band A. Currently let at £542 pcm, holding over from the original 6 month AST dated 20/04/2020. Flat 2 – rear 2 bedroom flat with courtyard garden and rear access from lane. 48 sqm. Council Tax band A. Currently let at £650 pcm, holding over from original 6 month AST dated 06/12/2019. First Floor Flat 1 – bay fronted 1 bedroom flat. 39 sqm. Council Tax band A. Currently let at £563 pcm, holding over from original 6 month AST dated 03/11/20 Flat 4 – 1 bedroom rear flat. 22 sqm. Council Tax band A. Currently let at £434 pcm, holding over from original AST dated 24/11/2018 Second Floor Flat 5 – A top floor 1 bedroom flat. 40 sqm. Council Tax band A. Currently let at £563 pcm, holding over from 02/11/2018. Total rent - £33,024 per annum.
All flats currently rated E. Since the EPCs were issued the property has undergone thermal improvements with new Quantum Dimplex heaters fitted within each flat. The EPC’s are currently being recalculated and expected to have improved to a C rating. Please check the legal pack for further information.
For sale by LIVE STREAM Auction
on 10th November 2021 start time to be confirmed. In order to take part you must complete the registration form and return it together with two forms of ID. You will then be able to bid from the luxury of your own home either over the internet, by phone or by proxy. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
A full auction legal pack can be downloaded from the Auction House Bristol website once available. For further information on the other lots in this auction please visit the website.
Search Pack Fee
£360 inc vat payable on exchange of contracts
Energy Efficiency Rating (EPC)
Current Rating E
Berry Redmond Gordon Penny, 50 Boulevard, Weston-Super-Mare, BS23 1NF, Tel: 01934 414161
Buyer's Premium - 1.2% inc VAT of the purchase price payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.