A freehold investment configured as two flats registered on their own leases, located close to Sandown sea front and town centre. Ideal long term letting investment with an estimated rent of £1,060 PCM, gross yield 7.95% PAX or potential Airbnb.
Auction date
To be sold by online auction on Friday 30th June 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 Sandown sea front * Good access to town centre * Mainline rail service from Sandown to Ryde Esplanade & Shanklin
Description
Terraced house * Configured as two flats on separate leases * Let investment
Accommodation
Comprises:
Ground floor
Two bedroom flat with courtyard garden (vacant)
First floor
One bedroom flat currently let on an AST for £510 PCM
Outside
Front and rear garden
EPC rating
Lower flat - D, Upper flat - E
Tenure
Freehold
Lease
Lower Flat - 999 years from 12.08.2015, Upper Flat - 999 years from 12.08.2015
Tenancies
Lower flat - vacant with an estimated rent £500 - £550 PCM. Upper flat - occupied on an AST for 12 months until 27.02.2024 for a rent of £510 PCM.
Council tax band
A - Isle of Wight Council
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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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.
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