Lot 2 - 6A to 8A Wash Lane, Bury, Lancashire, BL9 6AS

  • Unconditional Online Auction Sale
  • Guide Price* : £180,000 plus

Addendum

Combined annual income of £19,680, with the following updates to Flat 2 and 3 -
Flat 2: Let on an AST expiring on 21/1/23 at a rent of £460 per month.
Flat 3: Let on a statutory periodic tenancy following expiry of an AST granted for 6 months from 19/09/19 at a rent of £385 per month.

  • Residential investment
  • Annual Equivalent income £19,560
  • 4 Flats

Residential block of four self contained flats all fully let producing a combined annual income of £19,680

Description

The property comprises a block arranged as retail to the ground floor and four self contained flats to the first floor (two 2 bedroom flats, one 1 bed flat & one studio flat) which are let to established tenants at a combined rent of £1,640 per month (annual equivalent £19,640). The ground floor is subject to a long lease of 850 years from 28th October 2009 at a peppercorn rent.

Location

Edge of town centre, fronting Wash Lane which links Rochdale Road and Bell Lane. The location is convenient for local shops, amenities and bus routes, with the heart of the town centre less than 0.5 mile to the west.

Tenure

Leasehold for 999 years from 24 December 1890.

Accommodation

We have not inspected internally and the Vendor has confirmed:

Flat 1: Self contained studio flat
Flat 2: Self contained two bedroom flat
Flat 3: Self contained one bedroom flat
Flat 4: Self contained two bedroom flat

Tenancies

Flat 1: Let on a statutory periodic tenancy following expiry of an AST granted for 12 months from 17/06/19 at a rent of £370 per month.
Flat 2: Let on an AST expiring on 21/1/23 at a rent of £460 per month.
Flat 3: Let on a statutory periodic tenancy following expiry of an AST granted for 6 months from 19/09/19 at a rent of £385 per month.
Flat 4: Let on a statutory periodic tenancy following expiry of an AST granted for 6 months from 15/09/18 at a rent of £425 per month.

EPC

Flats 1and 3 are Energy Asset Rating C, Flat 4 is Energy Asset E and Flat 2 is Energy Asset Rating F.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £1920 (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.

Log in to view your status

Sold Post

This auction is now closed.

Ended on

Connecting to server...

Finance Available | Enquire Here

Office Contact

James Ashworth
0161 967 0122

Vendors Solicitor

Ryan Morgan - HSR Law
01427 613831

Important Documents

Agreement Documents

Related Documents

Legal Documents

Log in to view legal documents

Make an Enquiry

Submit an enquiry and someone will be in contact shortly.

 
*  
*  
*
*
*

Share