FOR SALE BY PUBLIC AUCTION: The auction will take place online on 28th October 2025 at 04:09 PM with registration through our website.
Bay-fronted residential investment split into 4 units in sought after location. Informed rental income of £29,700pa representing an Initial Gross Yield of circa 12%.
Description
Bay-fronted residential investment split into 4 units in sought after location. Informed rental income of £29,700pa representing an Initial Gross Yield of circa 12%.
The building itself is of brick/stone construction under a pitched tile roof and appears to be in generally good order. The flats are in varying condition and some would benefit from some modernisation but are generally in good condition.
The property briefly comprises a shared entrance hall with original floor, with entrance doors to the two ground floor flats. The ground floor flat is arranged with a studio living bedroom, separate kitchen and bathroom with rear storage and access to the rear garden - informed rent of £625pcm. The ground floor rear flat has not been inspected at time of advertising but we understand comprises another studio apartment with shower room - informed rent of £600pcm.
Upstairs are two further apartments. The rear flat is a small refurbished studio with kitchenette and newly fitted shower room - informed rent £500pcm and the first floor front flat comprises a hallway, spacious living/bedroom, open-plan to kitchen and a bathroom.
We will be adding further pictures in the coming days and please refer to the legal pack, when available, for further confirmation of rental incomes and tenancy details.
Accommodation
Flat A - First floor front studio flat - informed rent £750pcm
Flat B - First floor rear small studio - informed rent £500pcm
Flat C - Ground floor front studio flat - informed rent £625pcm
Flat D - Ground floor rear studio flat - informed rent of £600pcm
Informed Freehold please refer to legal pack for verification of tenure
Additional Fees
Buyer’s Premium – 1.2% with a minimum of 1,200.00 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid by the purchaser on completion.
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Further Information
Auctioneers Office, Seel and Co
Viewing
Viewing by appointment with Seel and Co