For Sale By Auction | 12:00, 12 December 2018 | Lot 24

Flats 1-20 (Excluding Flat 3) Ladyburn House, Lake Road, Hadston, Morpeth, Northumberland, NE65 9TG

*Guide | £550,000+ (plus fees)

  • Block of Apartments
  • 30 Bedrooms
  • Tenure: Leasehold. Each flat is held on a 125 year lease from 2007 (thus approximately 114 years unexpired on all 19 flats).

Call the team on 020 7625 9007 for more information

Auction Date

Wed 12/12/2018

Auction Time

12:00

Auction Venue

London Marriott Hotel Regents Park, 128 King Henry’s Road, London, NW3 3ST

A Residential Portfolio Investment Comprising a Parcel of Nineteen Self-Contained Flats (Three x 3 Bedroom Flats, Ten x 2 Bedroom Flats, Six x 1 Bedroom Flats). Part-Let Producing £77,760 per annum with an Estimated Rental Value of £82,500 per annum when Fully Let.

Tenure

Leasehold. Each flat is held on a 125 year lease from 2007 (thus approximately 114 years unexpired on all 19 flats).

Location

The flats are situated at the end of a residential cul-de-sac in the village of Hadston close to local shops and amenities. The open spaces of Druridge Bay Country Park are within easy reach. Transport links are provided by Acklington rail station which is approximately 3km away.

Tenancy

All of the flats are subject to Assured Shorthold Tenancies that are now holding over. The rents range from £350 - £430 pcm. There are no rent arrears.

Total Combined Current Rent Reserved £77,760 per annum. Flat 19 is vacant.

EPC Rating

B-C

Viewing Details

No internal access. Please contact us directly for more information: 0207 625 9007

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £900 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.