Lot 63

WELL MAINTAINED MULTI-LET RESIDENTIAL INVESTMENT

23 Milton Street, Maidstone, Kent, ME16 8JT
23 Milton Street, Maidstone, Kent, ME16 8JT
Sold After

Currently let at £30,600 per annum

Estimated rental income £37,600 per annum

A substantial mid-terrace property providing residential accommodation over four floors, situated in a popular residential area convenient for the busy town centre.

The property has operated as an investment for many years as a multi-let house in multiple occupation. It has been well maintained throughout and has a gas heating system via radiators and replacement uPVC double glazed windows. The Sellers have recently received a House of Multiple Occupancy (HMO) Licence renewal from Maidstone Borough Council, through to 2022. The HMO Licence allows for double occupancy on four of the rooms which has the potential to enhance the rental income.

Ground Floor

Entrance hall to front, shared living room, fully fitted kitchen with a range units, rear hallway, bathroom and separate W.C.

Room 2

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.

Lower Ground Floor/Basement

Room 1

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a rental of £425 per calendar month.

First Floor

Landing and shared bathroom with W.C.

Room 5 - Front

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.

Room 4 - Middle

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.

Room 3 - Rear

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.

Second Floor

Landing and access to loft storage.

Room 6

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.

Outside

Forecourt garden. Rear garden with rear pedestrian access.

Auctioneer’s Note

The sellers have confirmed some white goods will be included in the sale. Further information will be provided in the legal documents

Freehold with Part Vacant Possession

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/