*Guide Price £55,000+ (+ fees). For Sale via Online Unconditional Livestream Auction on 03/12/2024 at 14:00pm. Two bedroom ground floor flat offering a great investment opportunity with a potential gross yield of 16.3%. Full legal pack available to download via our website.
Description
*Guide Price £55,000+ (+ fees). For Sale via Online Unconditional Livestream Auction on 03/12/2024 at 14:00pm. Two bedroom ground floor flat offering a great investment opportunity with a potential gross yield of 16.3%. Full legal pack available to download via our website.
Ground Floor Flat
Offering to auction, this two bedroom ground floor flat situated in Watchet, Somerset. The accommodation comprises an entrance hall, living room, kitchen, bedroom 1, bedroom 2 and a bathroom. The potential rental income for this property is £750 per month and £9,000 per year. This offers any prospective buyer a potential gross yield of 16.3% based on the guide price.
Watchet is an historic harbour town with a modern marina, a good selection of shops and amenities, a surgery, nursery facilities and a primary school. The town is ideally placed between The Quantock Hills, Exmoor and The Bristol Channel, with easy access to the A39, Bridgwater and the M5 (North) and to the A358, Taunton, the A303 and the M5 (South). The near-by village of Williton has further good facilities including a middle school. Minehead, 15 minutes away, has a wider range of amenities, including a hospital and West Somerset College.
AUCTIONEERS NOTE: POTENTIAL YIELD We have been advised by a local lettings agent that the potential monthly income is £750 and the yearly income £9,000. This offers a potential gross yield of 16.3% based on the guide price.
LEASE INFORMATION 999 Years from 1990
964 Unexpired years
Ground Rent: Annual Payment of £25
Service Charge: One third liability for building maintenance and insurance.
ACCOMMODATION Entrance Hall
Living Room/Kitchen: 21' 10" x 11' 9"
Bedroom One: 11' 2" x 9' 2"
Bedroom Two: 11' 3" x 9' 10"
Bathroom
VIEWINGS Regular block viewing sessions will be provided in the lead up to the auction. Please telephone Auction House South West on 03456 461361 to request a viewing.
FULL DETAILS Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within the full property details, online, via our website. All published information is to aid identification of the property and is not necessarily to scale.
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.
Tenure: Leasehold
Lease Details: 999 Years from 30 March 1990.
EPC Rating: F30
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
Buyers Premium of £1,560 including VAT.
Administration Charge
Buyers Administration charge of £1,200 including VAT.
Loading the bidding panel...
- 2 Bedrooms
- Unconditional (Immediate Exchange)
Call the team on 01752 474200 for more information
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.