FOR SALE BY ONLINE AUCTION - For development or investment. An extended period end of terrace house configured as 8 lettable rooms and studio, located close to Windsor town centre. Currently let generating £53,700 per annum, representing a 10.3% gross yield. Sold with the benefit of planning permission for conversion into 4 flats.
Auction date
To be sold by online auction on Friday 17th December 2021, bidding will open at 10.00.
To view
A virtual viewing is available. Internal viewings will be conducted in accordance with the Government guidance on Social Distancing. Please call 01344 753 120 to book an appointment at the following times: * Wednesday 8th December at 12.00 * Wednesday 15 December at 12.00 *
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
* Popular residential location * Walking distance to central Windsor, Windsor Castle, River Thames and The Great Park * Good access to Heathrow Airport via M4/M25 * Mainline rail service to Slough and London Waterloo
Description
* Currently tenanted * Planning Permission for conversion to four 1 bedroom flats * Development potential
Accommodation
Comprises:
Ground floor
Entrance hall, kitchen, 3 rooms two with en-suite, studio flat with shower room and WC. (Not inspected by the auctioneer)
First floor
5 rooms, 2 bathrooms
Outside
Front and rear gardens
Planning
Full planning permission was granted by Royal Borough of Windsor & Maidenhead on 10th March 2021 for the change of use from a studio flat and 8 bedroom HMO to provide 4 flats, part single part two storey side extension. Application number 21/00039. Further details available in the legal pack
Proposed development
Four 1 bedroom flats. Flat 1 - Ground floor, living room/kitchen, shower room, bedroom, measuring 43 sq m (462 sq ft). Flat 2 - Ground floor, living room, kitchen, shower room, bedroom, measuring 52 sq m (560 sq ft). Flat 3 - First floor, living room/kitchen, shower room, bedroom, measuring 49 sq m (527 sq ft). Flat 4 - Split level first and second floors, living room, kitchen, shower room, bedroom, measuring 58 sq m (624 sq ft).
Associated costs
We understand the CIL liability is £12,881.92
EPC rating
D
Tenure
Freehold
Tenancy
Currently let as 8 rooms and separate studio with full occupancy on AST's (some now periodic). Current rent £4,475 pcm (£53,700 pax). Please see legal pack for tenancy agreements.
Local authority
Royal Borough of Windsor & Maidenhead - 01628 683 800
Please note
All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of Her Majesty’s Stationery Office @ Crown copyright. All rights reserved, Licence no: 100020449.
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 lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a Reserve, (a figure below which the Auctioneer cannot sell the lot during the auction) which we expect will be set within the Guide Range, or no more than 10% above a single figure Guide Price.
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.
* 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.
8 Beds
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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.
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