FOR SALE VIA NATIONAL ONLINE AUCTION! SIX APARTMENTS PRODUCING £26,439 PER ANNUM.
Description
A substantial freehold block of 6 apartments fully let on assured shorthold tenancy agreements, many of them to long standing established tenants and providing a healthy annual income of £26,439, or around 20% gross yield at around the guide price figure, with scope to increase in line with market rates. The six properties are sold with all rental certification in place and have independent access, meters for gas and electricity, own central heating systems and double glazing.
The building has private outside space with further future development potential, subject to planning, as similar end units have obtained planning permission for additional attached dwellings.
Occupying a corner position with potential for car parking to the rear, located a short drive or bus journey into the City of Doncaster, and close to large national employers nearby, these properties are always likely to be in high demand from tenants looking for affordable accommodation. We understand from the sellers solicitor that purchasers would still benefit from multiple dwelling relief on the property purchases , ie no stamp duty payable before the relief is withdrawn.
A significant building in an area popular with tenants and providing an income from the day of purchase , a rare opportunity to purchase such an investment property , with all six properties located on one site for ease of management.
Current tenancies and incomes ;
•{tab}44a Balfour £425pcm
•{tab}44b Balfour £325pcm
•{tab}46a Balfour £325pcm
•{tab}46b Balfour £425pcm
•{tab}48a Balfour £346.66pcm
•{tab}48b Balfour £356.67pcm
Local housing allowances for this type of property are circa £375 per month , indicating a potential uplift in rental returns and a projected income around £30,000 per annum.
External viewings only as tenanted, please do not disturb tenants peaceful enjoyment of the property. Video tour available for 44a taken before its recent re-let , and the legal pack will contain inventories and condition reports including photographs for the remainder of the properties.
Tenure - see legals
Council - A
Tenure: See Legal Pack
EPC Rating: see legal pack
Note
Please be advised that one of the apartments has become vacant on Friday 10th May.
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Buyers Premium
£1200 inc vat payable upon the fall of the virtual gavel
Administration Charge
Administration Charge is a non-refundable £1,200 inc VAT payable on the fall of the virtual gavel.
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- 6 Bedrooms
- Unconditional (Immediate Exchange)
Call the team on 0114 223 0777 for more information
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