3 Bed Flat, Single Let, Salisbury, SP1 1LN, £155,000

3 Manor Court, Wain-A-Long Road, Salisbury, Wiltshire, SP1 1LN - 3 views - 2 months ago

Leasehold
Auction
BTL
ROI: 6%
74 m²

ValuationUndervalued

Sold Prices£180K - £665.3K
Sold Prices/m²£2.1K/m² - £3.6K/m²

 

 

Square Metres

74 m²
Price/m²£2.1K/m²

Value Estimate

£193,750
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£5,850

Total Cash In

£44,600

 

 

Cash Out

 

Rent Range

£799 - £1,800

Rent Estimate

£925

Running Costs/mo

£689

Cashflow/mo

£236

Cashflow/yr

£2,828

ROI

6%

Gross Yield

7%

Local Sold Prices

7 sold prices from £180K to £665.3K, average is £290K. £2.1K/m² to £3.6K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£230K04/210.25 mi63, St Marks Avenue, Salisbury, Wiltshire SP1 3DD3
£290K09/230.63 miFlat 2, Blackmore Museum, St Ann Place, Salisbury, Wiltshire SP1 2SU3
£460K12/200.82 mi72, Park Lane, Salisbury, Wiltshire SP1 3NP3
£665.3K05/230.86 mi184, The Close, Salisbury, Wiltshire SP1 2EZ3
£186K03/231.33 mi86, Hollows Close, Harnham, Salisbury, Wiltshire SP2 8JX3
£180K06/211.57 mi5, Centurion Close, Salisbury, Wiltshire SP2 9BL3
£460K11/211.65 mi2, Montague Road, Salisbury, Wiltshire SP2 8NJ3

Local Rents

23 rents from £799/mo to £1.8K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,25009/240.11 miSALISBURY - Atherton Court3
£1,20009/240.18 mi-3
£1,20009/240.18 mi-3
£1,35009/240.23 miSALISBURY - Wyndham Terrace3
£1,40009/240.37 miBelle Vue Road, Salisbury3
£1,30009/240.43 miPennyfarthing Street, Salisbury, SP13
£1,50009/240.49 miVictoria Road3
£1,45009/240.53 miCastle Road, Salisbury3
£79912/240.58 mi-3
£1,40009/240.69 miSteynings House, Chapel Place, Salisbury, Wiltshire, SP23
£1,30012/240.73 mi-3
£1,05001/240.75 mi-3
£1,80001/240.8 mi-3
£1,35003/250.87 mi-3
£1,10009/240.89 miDevizes Road, Salisbury3
£1,35003/250.89 mi-3
£1,40009/240.94 miKingsland Road Salisbury SP23
£1,05010/230.97 mi-3
£1,30002/241 mi-3
£1,48008/241.03 mi-3
£1,40010/231.08 mi-3
£1,40010/231.08 mi-3
£1,25009/241.22 miLongland, Salisbury, Wiltshire, SP23

Local Area Statistics

Population in SP1

21,621

Population in Salisbury

93,605

Town centre distance

0.83 miles away

Nearest school

0.10 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+49%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £155,000

February 14, 2025

Description

  • WELL ARRANGED FIRST FLOOR FLAT +
  • THREE BEDROOMS (TWO DOUBLE, ONE SINGLE) +
  • DUAL ASPECT LIVING ROOM +
  • GOOD SIZED KITCHEN +
  • BATHROOM AND SEPRATE WC +
  • COMMUNAL GARDENS +
  • PARKING SPACE AVAILABLE TO RENT +
  • PROPERTY LET ON AN INDIVIDUAL ROOM BASIS WITH THE TENANTS PAYING £1,593 PCM TO INCLUDE ALL BILLS OTHER THAN BROADBAND +

The Property:

Located just outside the Ring Road, this is a first floor flat in a modern purpose-built block which has benefited from a schedule of improvements in recent years. The well arranged accommodation comprises an entrance hall, dual aspect living/dining room, two double and a single bedroom, bathroom and separate cloakroom. The windows are UPVC double glazed and a new gas fired boiler has just been installed. There are communal gardens to the front and side of the property and we are advised that a parking space could be rented from Wiltshire Council in the adjoining carpark.

The Situation:

The property is situated in an elevated position just outside the Ring Road within easy walking distance of many local facilities including the recreation areas provided by The Greencroft and the Council Grounds. The City Centre is easily accessible by foot or Public Transport and provides a wealth of amenities including the Waitrose Super Store, the Playhouse Theatre, the Five Rivers Leisure Centre, the mainline Railway Station, an extensive range of shops and excellent state and private schools.

VIEWING:
Strictly by appointment with the Vendor s Agents, John Jeffery of Salisbury

FLOOD RISK:
We are advised that the Flood Risk is No Risk .

SERVICES:
All mains services are connected to the property.

COUNCIL TAX:
The Local Authority has advised that the property falls within Band C.

POSSESSION:
The property is being sold via Secure Sale online bidding. Terms and Conditions apply. Starting Bid 155,000. This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted.

TENURE:
We are advised that the property is held on a 125 year Lease from 25th December 1982. A new pitched roof is being put on the building at a cost of 7,000 to each flat in the block. The Vendor is currently paying 85 pcm contributing to the cost of the work and the service charge. The Ground Rent amounts to 10 pa. The property is let on an individual room basis with the tenants paying 1,593 pcm to include all bills other than broadband.

The property is approached across a level paved path to the communal front door with entry system. A flight of stairs leads to the first floor with a door to a communal drying room and front door to:

ENTRANCE HALL:
Doors to two deep storage cupboards, Entryphone handset, doors to all rooms:

LIVING/DINING ROOM:
4.29m x 3.39m (14 01 x 11 05 )
UPVC windows to side and rear elevation; double panel radiator; door to

KITCHEN:
4.30m x 2.14m (14 02 x 7 0 )
UPVC double glazed window to rear elevation, wall mounted gas boiler, fitted with range of base and wall mounted units, inset stainless steel sink, washing machine, gas cooker, tiled floor and tiled splashbacks. Door to entrance hallway.

BEDROOM 1(S):
4.29m x 3.077m (14 01 x 10 02 )
UPVC double glazed window to front elevation; radiator, built-in wardrobe.

BEDROOM 2(F):
3.69m x 2.77m (12 03 x 9 06 )
UPVC double glazed window to front elevation; radiator, built-in wardrobe.

BEDROOM 3(S):
2.76m x 2.17m (9 04 x 7 08 ) excluding door recess
UPVC double glazed window to side elevation, radiator.

BATHROOM:
UPVC obscure glazed window to rear elevation; radiator, panelled bath with shower attachment, pedestal wash hand basin.

CLOAKROOM:
UPVC obscure glazed window to rear elevation, low level w.c.

OUTSIDE

There are maintained gardens to the front and side. There is a communal parking area and we are advised that a space can be rented from Wiltshire Council.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent (John Jeffery of Salisbury) on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedures are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

Agent Details

John Jeffery, Salisbury

01722 449968

Next Steps?

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