Lot 17 Freehold InvestmentAuction Date:
13th December 2023
30 Queens Hill, Newport, Gwent, NP20 5HJ
Currently let at £10,560 per annum
A mid-terrace property within close proximity of Newport city centre which provides many useful amenities including Friars Walk shopping centre. The property is also conveniently located for Newport railway station.
This property does require improvement throughout and is let to a company that sublets the property as a House in Multiple Occupation (HMO). Interested parties may wish to continue with the more 'hands-off' investment currently in place, or others may see the potential in serving notice to the company that is currently subletting so they can let the property as an HMO themselves and, therefore, increase their rental income. Alternatively, interested parties may see the potential of either converting the property back into a single dwelling or even conversion into two flats and carry out the associated work to sell the property for post-works profit, subject to all necessary consents being obtainable.
Ground Floor
Entrance hall, two bedrooms, living/dining room, kitchen and small utility room.
First Floor
Split-level landing, three bedrooms, bathroom with W.C and a shower room with W.C.
Outside
Small hardstanding to front and decked rear garden.
Tenancy
Let on a rolling Assured Shorthold Tenancy at a current rental of £880 per calendar month. Further information will be available to download from the Clive Emson Website.
Council Tax Band D
Auctioneer's Note 1
At the time of publication, we have only been able to partially inspect the building and interested parties should rely on their own investigations to verify the information provided.
Auctioneer's Note 2
The company that sublets the property from the current owner rents the building out as a fully licensed HMO providing the company with a rental income of circa. £20,000 per annum.
Local Planning Authority
Newport City Council. Website: newport.gov.uk. Tel: 01633 656656.
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
