Lot 9 - 31 Church Street, Maldon, Essex, CM9 5HW

  • Unconditional Online Auction Sale
  • Guide Price* : £180,000
  • Two Bedroom Two Bathroom Ground Floor Apartment
  • Let on an AST producing £918.75pcm
  • Popular and convenient location

ON BEHALF OF THE TRUSTEE IN BANKRUPTCY: A two bedroom ground floor apartment let on an AST at a rent of £918.75pcm

Description

* VIDEO TOUR AVAILABLE UPON REQUEST* A residential investment comprising a modern two bedroom ground floor apartment producing an annual equivalent income of £11,025.

Location

The property is located fronting directly onto Church Street, around 0.5 mile from the centre of Maldon and a few hundred yards from the quayside on the River Chelmer. The town centre has a range of amenities and an array of bars and restaurant with the surrounding area being popular with tourists.

Tenure

Leasehold for 999 years from 1st January 2008 at a ground rent of £50 per annum (doubles every 111 years). We do not currently have any service charge information as the freeholder company was dissolved in 2020. The Trustees in Bankruptcy are currently paying for maintenance of the grounds directly and maintenance of the gates is paid for by their letting agent from rent collected.

Accommodation

Kitchen/Lounge/Diner 20' x 17'5 (6m x 5.3m)
Bedroom One 10'8 x 17'0 (3.2m x 5.1m)
En Suite 5'5 x 6'7 (1.6m x 2m)
Bedroom Two 8' x 11' (2.4m x 3.3m)
Bathroom/Jack and Jenny En Suite 7'2 x 5'2 (2.1m x 1.5m)

Outside

Included within the lease is a right to use an allocated car parking space.

Tenancies

The property is let on an Assured Shorthold Tenancy for a term of 6 months from the 6th May 2010 (Holding Over) at a rent of £918.75 pcm. Please note the rent was increased on 6th June 2021, although this was not formally documented as a change from the original AST.

EPC

Energy Performance Asset Rating - C

Council Tax Band

B

Costs

Council tax band B.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £2700 (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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