- RESIDENTIAL & COMMERCIAL BLOCK +
- 2 X 1 BED FLATS & 1 X COMMERCIAL SHOP +
- EXCELLENT INVESTMENT OPPORTUNITY +
- MANAGED BY HOMESURE PROPERTY +
- FREEHOLD +
- COMBINED ESTIMATED RENTAL INCOME £1,575PCM/£18,900PA +
FIXED PRICE OF £150,000.
SOLD UNDER AUCTION TERMS, WITH IMMEDIATE EXCHANGE REQUIRED.
VISIT OUR WEBSITE TO REGISTER TO PURCHASE.
A freehold building containing 1 commercial shop & 2 apartments. See the legal pack for full details.
Both of the apartments are currently tenanted. See the legal pack for full tenancy details.
The remaining shop is vacant and requires refurbishment.
GROUND FLOOR
Commercial shop
Currently vacant
Estimated rental income of £500pcm following refurbishment.
1st FLOOR
1 Bedroom apartment
Tenanted since March 2024 on a 12-month tenancy
Current rental income of £550pcm to be reviewed in March 2026
2nd FLOOR
1 Bedroom apartment
Tenanted since March 2024 on a 12-month tenancy
Current rental income of £575pcm to be reviewed in March 2026
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Disclaimer
For sale by Unconditional Online Auction.
Terms
Auction Method:
The auction for this property will be conducted online through our online-bidding platform. This is a “Timed Auction”, so there are no other lots being sold alongside this property.
The timeslot for the auction is displayed on the right hand side.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to Homesure Property’s Buyers Terms (England & Wales) which are available on the right hand side.
If you are the highest bidder, you must:
1. exchange legally binding contracts for the sale of the property immediately in accordance with the buyer's terms and conditions agreement, which will be provided upon registering to bid,
2. pay a non-refundable deposit equal to 10% of the purchase price, subject to a minimum of £5,000. This deposit contributes towards the purchase price (although note we can deduct fees owing to us from the deposit);
3. Complete the sale within 20 business days unless the special conditions of sale in state otherwise.
4. pay a non-refundable auction fee (‘Buyer’s Fee’) of £5,000(+VAT), which is equal to £6,000(inc. VAT).
5. You may also need to pay a Buyer’s Contribution (towards seller’s legal fees) on exchange of the sale. The value of this fee is usually up to £2,000, however, sometimes a different fee applies and will be listed within the Special Conditions of sale- make sure you check the information relating to each individual lot. This fee does not contribute towards the purchase price. If you fail to complete the sale, the seller can bring a claim against you personally for losses suffered and we may pursue you for unpaid auction fees.
Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Payment Method
When you register to bid, you will be prompted to provide your payment details to Homesure Property. In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer's Fee & Deposit. The payment will be calculated based on the guide price of the property, in line with the fee scale described above. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by bank transfer. Payment by cash or cheque will not be accepted.
Legal Pack
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
To view the legal pack look for the sub-heading “Legal Documents” on the right hand side. Underneath this, you will be prompted to “Log in to view the legal documents”. Follow this link, you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.
Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of Homesure Property’s terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
Registration Process
To register to bid on the property, search for the lot on Homesure Property’s website.