Lot 25 Freehold Investment - Four Two-bedroom And One One-bedroom ApartmentsAuction Date:
20th September 2023
144A High Street, Newport, Isle of Wight, PO30 1TY
Currently let at £46,200 per annum
Situated at the County Hall end of Newport High Street this freehold building has recently been converted from commercial premises to provide four apartments and a one-bedroom flat with small courtyard garden to the rear. The flats are each let on an Assured Shorthold Tenancy producing a worthwhile income. Accordingly, the building is considered an ideal addition into an income producing letting portfolio.
Ground Floor
Flat 1
Kitchen/living room, bedroom, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement for 12 months from 9th December 2022 at a current rental of £650 per calendar month.
Council Tax Band A
Flat 5
Entrance hall, kitchen/living room, two bedrooms, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement for 12 months from 10th June 2023 at a current rental of £800 per calendar month.
Council Tax Band TBC
First Floor - Flat 2
Entrance hall, kitchen, living room, two bedrooms, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement for 12 months from 16th March 2023 at a current rental of £800 per calendar month.
Council Tax Band A
Flat 3
Kitchen/living room, two bedrooms, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement for 12 months from 11th March 2023 at a current rental of £800 per calendar month.
Council Tax Band TBC
Second Floor - Flat 4
Kitchen, living room, two bedrooms, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement for 12 months from 11th March 2023 at a current rental of £800 per calendar month.
Council Tax Band TBC
Outside
Small courtyard garden to rear.
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
