FOR SALE BY ONLINE AUCTION - COMPLETION BY 31ST MARCH 2021 - A vacant, purpose built 2 bedroom ground floor apartment, conveniently located for access to Reading town centre and mainline train station. Suitable for investment with an estimated gross yield of 7.75% per annum at £900 PCM. Cash buyers only, lease currently 54 years.
Auction date
To be sold by online auction on Wednesday 17th February 2021, bidding will open at 9.00AM.
To view
Virtual tour available on request. Viewings will be held on a block basis conducted in accordance with the Government guidance on Social Distancing, PPE must be worn at all times. Please call 01344 753 120 to book an appointment.
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
* Good access to Reading town centre * West Reading and Reading mainline train station provide rail service to London Waterloo and Paddington * M4 access at junctions 11 & 12
Description
* Ground floor flat * Requires renovation * Letting investment potential
EPC rating
E
Tenure
Leasehold with vacant possession
Lease
99 years from 25 March 1976 - 54 years remaining.
Local authority
Reading Borough Council - 0118 937 3787
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.
Guide prices
Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. The Reserve will normally be set at or below the guide price. It is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may set the final reserve price just before bidding commences. Lots may be sold or withdrawn prior to auction. Please check regularly for updates.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy in addition to the sale price. Other non-optional fees may apply to certain lots. Please refer to the Special Conditions in the Legal Pack for the lot that you are bidding on for further information.
* 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.
2 Beds
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
