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Lot 20

Residential Investment – 3 Bed Duplex Flat – Gross Yield 10%
6 Week Completion

Situation

Located close to the junction with Grove Lane within this mixed commercial and residential parade, conveniently located approx. 1½ miles from Cheadle Hulme town centre and Cheadle Hulme Railway Station (National Rail).
Manchester Airport is approx. 4 miles distant.
Cheadle Hulme is a popular suburb situated some 8 miles south of Manchester city centre, enjoying easy access to the M60 Ring Road (Junction 2).

Property

Forming part of a mixed use parade comprising a Self-Contained 3 Bed Duplex Flat on the first and second floors accessed from the rear of the building. The flat benefits from uPVC double glazing and gas central heating.

Accommodation

First Floor
Living Room, Kitchen
Second Floor
3 Bedrooms, Bathroom, separate WC

GIA Approx. 882 sq ft¹

¹Not inspected by Barnett Ross. Area taken from EPC.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 125 years from completion at a peppercorn ground rent.

Tenancy

The property is let on an Assured Shorthold Tenancy to 2 Individuals (see Note 1) for a term of 6 months from 20th September 2017 (holding over) at a current rent of £7,500 per annum exclusive (£625 pcm).

Video tour

Click here to view the video tour of the flat.

Note 1: One of the individuals named on the AST is no longer in occupation.

Note 2: There is a £625 Rent Deposit held.

Note 3: The adjoining flat (No. 179) is also being offered for sale in this auction - see Lot 19.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

177 Gillbent Road, Cheadle Hulme, Cheshire SK8 6NH