INVESTMENT OPPORTUNITY - Producing Gross Income of £38,783 per annum (2020/2021)
This property will be offered for sale by online unconditional auction closing 31st May 2022 with a *guide price of £135,000 - £155,000 (plus fees).
Description
Situation:
The properties are situated on Cottage Beck Road, Scunthorpe a popular and central area of this North Lincolnshire town, close to both retail facilities and a short distance from the steel work and other industrial areas. Scunthorpe itself offers a wealth of facilities and amenities, along with good access to the M180 motorway network.
Description:
An ideal opportunity to purchase the freehold of these 2 properties, currently being operated (and have been for 4 years) as serviced accommodation, and producing gross income of £38,783 per annum (2020/2021). Estimated gross income of £39,982 per annum (2021/2022 est.).
They are currently configured as a 1 bed and a 2 bed self contained flats, with excellent occupancy rates (95%) (2020/2021).
An internal viewing is a must to appreciate the specification, and size of the property, and the poses to perfect opportunity for a high yielding investment.
General Remarks
Tenure
The property is believed to be freehold. All prospective bidders should satisfy themselves of the tenure by inspecting the legal pack.
Possession
Subject to any existing tenancy agreements.
Viewing
Strictly by appointment with Auction House.
Services
Prospective purchasers are advised to make their own enquiries of the relevant statutory authorities. NB: Services, Apparatus and Equipment have not been tested by Auction House and therefore cannot be verified as being in working order. The buyer is advised to obtain verification from their Solicitor/Surveyor.
These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract. Information relating to Rating and Town & Country Planning matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate Authority. All measurements, areas and distances are approximate only. Potential purchasers are advised to check them.
Additional Fees
Buyer's Premium: £1,200.00
Administration Charge: £1,200.00
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion
Administration Charge
Administration Charge is a non-refundable £1,200 inc VAT payable on the fall of the virtual gavel.
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- Unconditional (Immediate Exchange)
Call the team on 01427 616436 for more information
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