• Guide Price: £150,000 - £175,000 +
• Prime Location +
• Three Apartments +
• Let and producing a combined income of £1,995 per calendar month +

For sale on 23 October 2024
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.
The auction will commence at 09:00. A freehold investment opportunity comprising three apartments with current combined income of £23,940 per annum.

Interested parties are advised to inspect the legal pack for more information prior to placing their bid, as this will be binding.

The property is located in Bilston which offers a fantastic selection of local shopping just a stones throw away. The M54 and M6 motorways can be accessed via the Black Country route which is also relatively close by. Within the area is a fantastic selection of local schools and bus routes linking to Bilston shopping areas.
Tenancy Details The auctioneers understand that each apartment is holding over on a 6 month assured shorthold agreement. Apartment 2 produces £700 per calendar month, Apartment 2A produces £725 per calendar month and Apartment 2B produces £570 per calendar month. Total monthly income £1,995. Please see tenancy agreements in the legal pack. We have not been provided with evidence of rent increase and cannot therefore confirm the rental figure referred to in our marketing. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Services Mains gas, electricity, water and drainage are believed to be connected. Prospective buyers are advised to make any necessary independent enquiries in this respect before placing their bid, as this will be binding.
Building Construction Cavity wall - taken from EPC.
Broadband Standard 16 mbps, Superfast 80 mbps and Ultrafast 1000 mbps are available in this location.
Mobile Signal EE, O2, Vodaphone and Three are available in this location.
Satellite and Cable TV Availability Sky, Virgin and BT are available in this location. Tenure: Freehold EPC Rating: C E E Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers Fee of 3.6% of the purchase price (subject to a minimum of £6,000 inc. VAT).

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.