A freehold residential investment close to Crewe centre and Cheshire College with a current rent of £23,400 PAX , representing an initial gross yield of 14.6% PAX. Comprising a significant, extended period end terrace house configured as 6 flats, currently let. Providing the opportunity to sub-divide or re-develop (STPP). For sale as a single freehold lot, suitable for cash buyers.
Auction date
To be sold by online auction on Wednesday 31st January 2024 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 town centre and Hospital * Mainline rail service to London, Manchester & Birmingham * M6 access at junctions 16 and 17
Description
* End terraced house * Configured currently as six flats * Requires refurbishment * Sold subject to tenancies with potential for uplift * Potential for further conversion or re-modelling (STPP)
Accommodation
Comprises:
Ground floor
Entrance hall, Flat 1 bedroom/living room, kitchen, ensuite, Flat 2 bedroom/living room with kitchen area, ensuite, storeroom
First floor
Landing, Flat 3 bedroom/living room, en-suite, Flat 4 Bedroom/living room, Flat 5 bedroom/living room with kitchen are, en-suite, shower room
2nd floor
Flat 6 bedroom/living room, bedroom
Outside
Garden area to sides and front
EPC rating
Flat 3 D, Flat 4 D, Flat 5 D, Flat 6E, Flat 1 & 2 To be confirmed
Tenure
Freehold sold subject to tenancies.
Tenancies
Flat 1 £300 pcm periodic, Flat 2 £300 pcm periodic,
Flat 3 AST for 12 months from 26/6/20 now periodic for £295 pcm, Flat 4 AST for 12 months 20/6/22 now periodic for £355 pcm, Flat 5 AST for 12 months 27/9/2023 12 for £350 pcm, Flat 6 AST 12 months 27/04/2023 at £350 pcm.
Please see legal pack for further details.
Ground rent and service charge
Please see legal pack for further details.
Council tax band
A - Cheshire East
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 an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".
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.
* 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.
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