A freehold residential investment close to Stoke City centre and University hospital with a current rent of £15,300 PAX , representing an initial gross yield of 6.7% PAX. Comprising a significant vacant period 5 bed terrace house requiring renovation, 4 lock-up garages, two 1 bedroom flats, and a 2 bed bedroom ground floor flat currently occupied on AST's. 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 Friday 26th May 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
* Hartshill area * Close to University & hospital * Good access to city centre * Mainline rail service to Manchester and West Coast * M6 access at Junction 15
Description
* 5 bed terraced house requiring renovation * 2 bed ground floor flat * 2 x 1bed flats * 4 x lock-up garages
Tenure
26 Freehold with vacant possession, 24,2A,2B- Freehold sold subject to existing tenancies.
Accommodation
Comprises:
26 Queens Road
Ground Floor: Entrance hall, Living room, dining room, study, kitchen, shower room.
1st Floor: 5 bedrooms, bathroom, WC
24 Queens Road
Ground Floor: Porch, entrance hall, living room, kitchen, 2 bedrooms, WC, bathroom, utility
2A Wilfred Place
Living room, kitchen, hallway, bedroom, bathroom
2B Wilfred Place
Living room, kitchen, hallway, bedroom, bathroom
Outside
Front and rear gardens, access to 2A&B Wifred Place via rear, block of 4 garages.
EPC rating
Number 26 - E, Number 24 - C, Number 2A - D, Number 2B - D
Tenure
Freehold with part vacant possession, part sold subject to existing tenancies
Tenancies
24: let on an AST from 11.05.22 for 12 months at £550 PCM. 2A: let on an AST from 10.09.22 for 12 months at £400 PCM. 2B let on an AST from at £350 PCM. Please see legal pack for further details.
Council tax band
26-B, 24-A, 2A-A,2B-A City of Stoke On Trent
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.
* 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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