Lot 11 Town Centre Flat For InvestmentAuction Date:
28th July 2022
Flat 2, 122 St. James Street, Newport, Isle Of Wight, PO30 5HE
Currently let at £6,000 per annum
Situated in the centre of Newport, the Island's county town and largest settlement, this one-bedroom split level flat is considered ideal for continued use as an investment. In good order throughout, with a full refurbishment having been carried out in 2018, the flat has been let at the same level for many years and it is considered there may be scope for the new owner to increase the rent accordingly.
Ground Floor
Bedroom, shower room/W.C., hallway and stairs to first floor.
First Floor
Split level living room and kitchen.
Tenancy
Let under the terms of an Assured Shorthold Tenancy at a current rental of £500 per calendar month.
Tenure
Held under the terms of a 999-year lease from 1st November 1991. Further details of the lease will be available to download from the Clive Emson Website.
Council Tax Band A
There is an addendum available to be read
in conjunction with the legal documentation.
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
