INVESTMENT OPPORTUNITY - Producing Gross Income of £38,783 per annum (2020/2021)
This property will be offered for sale by online unconditional auction closing 26th July 2022 with a *guide price of £130,000 - £150,000 (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.). Please note that accounts are available upon request.
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, size of the property, and the 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.
Rates
64 - Current rateable value £2500 (20 December 2017 to present)
64a - Current rateable value £1600 (20 December 2017 to present)
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.
Tenure: Freehold
EPC Rating: 64 - D & 64a - D
EPC Rating
D
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.
Administration Charge
Administration Charge is a non-refundable £1,200 inc VAT payable on the fall of the virtual gavel.
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- 3 Bedrooms
- Unconditional (Immediate Exchange)
Call the team on 01427 616436 for more information
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