Lot 22 Freehold Block Of Six Two-Bedroom Flats For InvestmentAuction Date:
16th June 2022
Flats 1-6 Kingswood, Coronation Road, Cowes, Isle Of Wight, PO31 7LB
Currently let at £29,760 per annum, plus vacant flat
Estimated rental income when fully let £36,000 per annum
This freehold self-contained block of six two-bedroom apartments is situated a short distance from the centre of the internationally renowned yachting centre of Cowes. Five of the six flats are let under the terms of Assured Shorthold Tenancy Agreements and producing a very worthwhile income, while the sixth flat is at present vacant having recently undergone a programme of upgrading and refurbishment.
There are communal gardens to the rear of the building and the block is considered ideal for addition to an income-producing letting portfolio.
Accommodation
Each flat has accommodation comprising:
Entrance hall, living room, kitchen, two bedrooms and bathroom with W.C.
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Chinneck Shaw
023 9282 6731
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 Buyers Fees
