available
£27,500
*SOLD VIA MODERN METHOD OF AUCTION*
We are delighted to bring to the market this fantastically positioned modern studio apartment to be sold with a tenant in situ generating an income of £8,880 per annum.
The apartment is being sold with all white goods & furniture in place and is located in the heart of the Baltic Triangle - an area of high rental demand and only a 5-minute walk from The Albert Dock.
This development is extremely popular with students and working professionals alike and receives high levels of rental interest thanks to its enviable waterfront location and host of onsite amenities for residents including an onsite gym and cinema room.
The property briefly comprises: entrance hallway; bathroom and; bedroom/living area with an integrated fitted modern kitchen.
Current Rental Income: £740.00pcm
Ground Rent: £373.91 per annum
Service Charge: £2,610.58 per annum
Council Tax: Band A
Tenure - Leasehold (990 years remaining)
This property is for sale by the Modern Method of Auction.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyer’s solicitor. This time allows buyers to get in place any mortgage finance required (subject to lending criteria, affordability and survey).
Auction Fees: The purchase of this property includes associated fees not listed here, as it is to be sold via auction. The buyer's premium for this property is £4,495 + VAT which must be paid upon the acceptance of your bid.
The buyer will be required to sign a Reservation Agreement and make payment of a non-refundable Reservation Fee. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Buyers will be required to go through an identification verification process and provide proof of how the purchase would be funded.
Guide Price: This is an indication of the seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction.
A Legal Pack will be made available for this property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding.
TO MAKE A BID or REQUEST A LEGAL PACK – Please contact our office for more details.
https://letsbidproperty.co.uk/properties/585/1_Bed_Apartment
