FANTASTIC INCOME PRODUCING OPPORTUNITY - Currently fully let as 4 studios and a one bedroom self contained apartment. GROSS YIELD OF OVER 14% (NET circa 11%). Walking distance of Bridgend town centre. Close to local primary school and transport networks. NO ONWARD CHAIN.
Ideal investment property. FULLY LET.
SECURE SALE TERMS
This property is subject to a secure sale. Should you view, offer or bid on the property, your information will be shared with iamsold Limited
With this auction method an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts. On exchange of contracts the buyer is required to make payment of a 10% deposit, sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation
Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Rear Entrance
Entrance to the ground floor self contained apartment via part frosted glazed PVCu door from the rear garden into the kitchen/breakfast room.
Kitchen/breakfast room (10' 10" x 8' 6" or 3.30m x 2.60m)
Overlooking the front via PVCu double glazed window and finished with emulsioned ceiling with central spot lights, access to loft storage, emulsioned walls, skirting and laminate flooring. A range of low level and wall mounted kitchen units with a complementary roll top work surface and ceramic tiles to the splash back. Inset sink with mixer tap and drainer, integrated electric oven with four gas ring hob and overhead extractor hood. Washing machine (to remain) wall mounted gas fired combination boiler, fitted breakfast bar and space for fridge/freezer. Doorway through into the shower room and a step up into the lounge.
Shower Room
Frosted glazed PVCu window to the rear, ceiling mounted extractor, papered walls, radiator and vinyl flooring. Three piece suite comprising low level w.c. wall mounted wash hand basin and separate shower cubicle with wall mounted electric shower, ceramic tiles to all splash backs and shower curtain.
Lounge (11' 2" x 13' 9" or 3.40m x 4.20m)
PVCu double glazed window overlooking the side, emulsioned ceiling with recessed LED spot lights, emulsioned walls, skirting and fitted carpet. Step up to the bedroom.
Bedroom (12' 2" x 13' 1" or 3.70m x 4.00m)
PVCu double glazed window to the side, emulsioned ceiling, papered and emulsioned walls, skirting and fitted carpet. Two fitted storage cupboards into the chimney breast alcoves.
Outside
Enclosed rear garden laid to lawn with patio area and side gated access back to the front of the property.
Entrance
Main entrance to studio apartments is via hardwood door into the entrance hallway. Stairs to the first floor with under stairs storage cupboard and door into flat 1.
Flat 1 (13' 1" x 11' 10" or 4.0m x 3.60m)
PVCu double glazed bay window to the front. Papered walls and fitted carpet.
En-suite shower room
Three piece suite featuring wc, wash hand basin and shower cubicle.
Landing
Via stairs with fitted carpet and wooden balustrade.
Flat 2 (13' 1" x 11' 10" or 4.0m x 3.60m)
Overlooking the front of the property via PVCu double glazed window and finished with papered and emulsioned walls, skirting and fitted carpet. Inset sink with mixer tap and drainer with storage below. Wall mounted and low level kitchen units with space for low level fridge. Separate bathroom opposite on the same floor.
Second Floor
Stairs with fitted carpet to the second floor. Doors to flats 3 and 4.
Flat 3 (13' 1" x 14' 9" or 4.0m x 4.50m)
PVCu double glazed window overlooking the front of the property, papered and emulsioned walls, skirting and fitted carpet. Built in one and half basin sink with mixer tap, drainer and storage below. Low level and wall mounted kitchen units with space for under counter fridge. Feature fireplace. Separate bathroom on the first floor.
Flat 4 (12' 10" x 12' 2" or 3.90m x 3.70m)
PVCu double glazed window to the rear, papered and emulsioned walls, skirting and fitted carpet. Low level and wall mounted kitchen units with inset sink, mixer tap and drainer. Feature fireplace. Doorway through to the en suite.
En Suite
Three piece suite comprising shower cubicle w.c. and wall mounted wash hand basin.
NOTE
We have been advised by the vendor that the property is leasehold, however title deeds have not been inspected.
Lease Term: 999 yrs from 2nd August 1895
Lease start Date: 23rd October 1895
Lease End Date: 2nd August 2894.
Years remaining: 871.
Auctioneers Comments
This property is for sale by the Modern method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer iamsold Limited.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 property). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000 including VAT. The reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for Land Transaction Tax liability. Buyers will be required to go through an identification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements - The partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Council Tax Band : D
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