A first floor tenanted leasehold (149 years remaining) studio apartment with balcony, located in the heart of St Albans. Ideal letting investment with a rent of £735 PCM, gross yield 8.01% PAX.
Auction date
To be sold by online auction on Friday 24th November 2023 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Location
* Close to local schools and amenities * Good access to St. Albans town centre * Mainline rail service to London St Pancras* Good access for M25 and M1 via A414
Description
* Studio apartment * Tenanted * £735 PCM, gross yield 8.01% PAX.
EPC rating
E
Tenure
Leasehold with tenant in situ
Lease
189 years from 24 June 1984 - 149 years remaining.
Tenancies
Let on a periodic AST for £735 PCM. A statutory periodic Tenancy in accordance with Section 5 (2) of the Housing Act 1988 and shall terminate upon either party serving the other the required statutory notice. Notice can be served prior to completion, if required.
Ground rent and service charge
Please see legal pack for further details.
Council tax band
B - St Albans
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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.
Whether you’re looking to sell or let your property, we can provide you with a free, accurate valuation based on our expert knowledge and the latest trends in your local area.
Call 01344 753120
enquiries@firstforauctions.co.uk
