Lot 5 - Flat 68 River View, Low Street, Sunderland, Tyne and Wear, SR1 2AT
- Unconditional Online Auction Sale
- Guide Price* : £35,000
Addendum
We understand that the solicitors have requested the management pack, however, at the time of auction a response has not been received. The completion period has been extended to 6 weeks. Interested parties must satisfy themselves in this regard. For the avoidance of doubt the purchaser is exchanging on an unconditional basis and they accept at their own risk the eventuality that the pack fails to arrive before the completion date, or it contains information they consider to be an adverse finding.
- Two Bedroom Second Floor Apartment
- Investment Property Let at £550pcm
- Cash Buyers Only
- Local amenities available nearby
- Secure allocated car parking
ON BEHALF OF LPA RECEIVERS: Two bedroom second floor apartment Let on an AST at a rent of £550pcm.
Description
A residential investment comprising a two bedroom second floor apartment within a purpose built development which is currently let at a rent of £6,600 per annum. The property benefits from lift access and secure allocated parking. The development has cladding to the upper floors which we understand does not meet current standard under The Building Safety Act 2022. Remedial works will be required and the cost of this may be charged back to the Leaseholders via the management company.
Location
The property forms part of a large development of flats known as River View which is approximately 1.2 miles to the east of Sunderland City Centre, south of the River Wear. Local amenities are available nearby.
Tenure
The property is held Leasehold for a term of 125 years from the 1st January 2004. The ground rent payable is £150 per annum.
Accommodation
Hall, Lounge, Kitchen, Two Bedrooms and Bathroom/W.C
Outside
Secure allocated car parking located at ground floor level.
Tenancies
The property is Let on an Assured Shorthold Tenancy Agreement for a term of 12 months from May 2024 at a rent of £550pcm.
EPC
Energy Performance Asset Rating - B
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,400 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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