Tenanted Property Split Into Four Self Contained Flats And a Shop With £24,000 pa income

The property consists of a shop let out as a bicycle repair/retail shop and four self-contained flats plus a garage to the rear. There is a small basement accessed in the shop. The shop (23A) is let at £325 pcm plus insurance rent (c. £300 p/a) and this includes the garage. To the rear there is a gated rear yard which is shared with the next door property which could be used for parking. Flat 1 Ground floor rear is rented at £95 pw (studio) Flat 2 First floor rear is rented at £100 pw (studio) Flat 3 First floor front is rented at £95 pw (one bed) Flat 4 Second floor is rented at £95 (one bed) Total rents currently are £24,220 with potential to increase to over £25k The flats are all occupied and managed by MK Property and the shop is let by way of tenancy agreement. Auction House are informed that the property has benefited from a whole new roof in the last 4 years. The flats benefit from seasonal gas central heating which is included in the rent and typically costs the landlord c. £700 p/a. The tenants have their own standalone electric heaters for use. The central heating doesn’t include water and is typically on for 2 hours in a morning and 2 hours in an evening from November to April inclusive. Tenure: Freehold Title number: LA551920 Council Tax Band : A Local Authority: Blackpool Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

Tenure

Freehold

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Energy Efficiency Rating (EPC)

Current Rating All Flats Band C

Local Authority

Blackpool Borough Council

Solicitors

Birchall Blackburn Law, Ref: Anis Patel, Tel: 01772 552217

Offered in association with

Kays Estates

Additional Fees

Buyer's Premium - £1200 inc VAT payable on exchange of contracts.

Administration Charge - 2.75% inc VAT of the purchase price, subject to a minimum of £3600 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.