Block of Six Flats – Potential To Produce £27,300 pa (when fully let)

Block of six flats within a semi-detached property with off road parking to the rear. Benefiting from upvc double glazing and gas central heating in the main. The property briefly comprises as follows: - Ground Floor – Flat 1 – One bed providing entrance hall, living room, separate kitchen, en-suite bedroom. Flat 3 – One bed – separately accessed from the rear, providing living room/kitchen, shower room and bedroom. First Floor – Flat 4 – Studio – located at the front and providing open plan living room/kitchen with shower room. Flat 5 – One bed – located at the rear and providing entrance hall, bedroom, bathroom, living room with kitchen off. Second floor – Flat 6 – two bed – providing entrance hall, living room/dining/kitchen, two bedrooms and shower room. Flat 7 – Studio - located at the rear and providing open plan living room/kitchen with shower room. (in process of being refurbished). Tenancies We have been informed that the flats are currently tenanted as follows: - Flat 1 - £85 per week Flat 3 - £85 per week Flat 4 – currently vacant but under offer at £85 per week. Flat 5 - £85 per week Flat 6 – £90 per week Flat 7 - currently vacant but under offer at £95 per week. Current rental is £345 per week / £17,940 pa When fully let this will increase to £525 per week / £27,300 pa We are informed that all flats are separately metered. Tenure: Long Leasehold Title number: LA579333 Length of Lease/Term: 997 years from 1 September 1874 Ground Rent : £13. 7s. 8d Service Charge: £ Council Tax Band : A Local Authority: Fylde Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

Tenure

Leasehold. LA579333

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Energy Efficiency Rating (EPC)

Current Rating Flats 1,6,7 = E / Flats 3,4,5 = D

Local Authority

Fylde Borough Council

Additional Fees

Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.