*Guide Price £55,000 (+ fees). For sale via Online Unconditional Auction starting on 21/08/2023 and ending on 22/08/2023. A one bedroom purpose-built apartment in a waterside location with tenants in situ producing a gross income of £7,500 per annum.
Investment Opportunity in a Waterside Location
A one double bedroom ground floor flat situated within a quiet development to the West of Plymouth City called Mutton Cove. Steeped in Naval history and set on the banks of the Tamar Estuary, the property is located close to the waterfront with local amenities nearby as well as various walks and panoramic views of the Tamar and Mount Edgecumbe. The property is an attractive ongoing investment opportunity with tenants already in situ. Great purchase for a buyer looking for a turnkey investment opportunity with minimal hassle! Approximate rental yield of over 13% based on the guide price!
AUCTIONEERS NOTE The property is currently let on an Assured Shorthold Tenancy Agreement for the term of 6 Months commencing on 09/06/2023 and thereafter shall continue as a monthly contractual periodic tenancy on the same terms and conditions until terminated by either party. The property is producing a gross income of £7,500 per annum (£625pcm) and further details can be found within the legal pack which is available to download free of charge via our website.
Please note, photographs were taken prior to the tenants occupying the property.
The lease has approximately 66 years remaining which means the property is available to cash buyers only.
VIEWINGS We will be providing block viewings in the lead up to the auction however, please note there are tenants in situ so viewings will be kept to a minimum in order to minimise disruption. To book a viewing slot, please call 01752 474200.
NOTICE TO BIDDER Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction.
FULL DETAILS Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within our full details online on our website. All published information is to aid identification of the property and is not necessarily to scale.
Lease Details: 105 years from 1st January 1984
EPC Rating: C73
105 years (65 years unexpired)
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.
£1200 inc VAT
Call the team on 01752 474200 for more information
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