Lot 103 Four Freehold Flats For InvestmentAuction Date:
4th May 2023
38 St. Johns Road, Newport, Isle of Wight, PO30 1LS
Four dwellings currently let at £27,540 per annum
Currently let at £27,540 pa
This large freehold semi-detached block is situated on a plot size of 0.05 hectares (0.11 acres) on St Johns Road, a short walk from Newport town centre. This four-storey building has a communal garden and a communal driveway where each flat has one allocated parking space. The flats are currently let on Assured Shorthold Tenancy Agreements.
Flat 1
Basement
Own entrance, kitchen, bathroom, living room and two bedrooms.
Council Tax Band A
Tenancy
Let on an Assured Shorthold Tenancy Agreement which commenced on 31st July 2020 at a current rental of £695 per calendar month.
Flat 2
Ground Floor
Accessed via a communal hallway. Living room, kitchen, bathroom and bedroom. This flat has direct access onto the rear garden.
Council Tax Band A
Tenancy
Let on an Assured Shorthold Tenancy Agreement which commenced 1st August 2014 at a current rental of £500 per calendar month, following a recent rent increase.
Flat 3
First Floor
Accessed via a communal hallway. Living room, kitchen, bathroom and bedroom.
Council Tax Band A
Tenancy
Let on an Assured Shorthold Tenancy Agreement which commenced 14th June 2022 at a current rental of £550 per calendar month.
Flat 4
Second Floor
Accessed via a communal hallway. Living room, kitchen, bathroom and bedroom.
Council Tax Band A
Tenancy
Let on an Assured Shorthold Tenancy Agreement which commenced 23rd June 2022 at a current rental of £550 per calendar month.
Auctioneer’s Note 1
The Managing Agents inform us that the tenant of Flat 1 is due to vacate on 14th April 2023.
Auctioneer’s Note 2
At the time of publication the Auctioneers have been unable to internally inspect the flats. These details have been supplied by the joint auctioneers and interested applicants should rely on their own investigations to verify the information provided.
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
