Lot 32 Town Centre Seven Flat Freehold Residential InvestmentAuction Date:
13th December 2023
34 Atherley Road, Shanklin, Isle Of Wight, PO37 7AU
Currently let at £29,220 per annum, plus one vacant flat
Like so many similar properties in the seaside resort town of Shanklin, this property is believed to have been a small hotel/guesthouse before transformation to its current use as an income-producing letting investment. The building is arranged as seven flats as a mixture of one and two-bedroom units.
Each flat is at present let under the terms of an Assured Shorthold Tenancy and the building is considered ideal for addition to an income-producing letting portfolio.
Lower Ground Floor
Flat 8
Entrance hall, living room, kitchen, bathroom with W.C. and two bedrooms.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £320 per calendar month.
Ground Floor
Flat 3
Living room, kitchen, shower room with W.C. and bedroom.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.
Flat 4
Living room/kitchen, shower room with W.C. and bedroom.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £450 per calendar month.
Flat 5
Entrance hall, living room, kitchen, shower room with W.C. and bedroom.
Tenancy
Currently vacant.
Flat 6
Entrance hall, living room, kitchen, shower room with W.C. and two bedrooms.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month.
First Floor
Flat 1
Living room/kitchen, shower room with W.C. and bedroom.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £320 per calendar month.
Flat 2
Living room/kitchen, shower room with W.C. and bedroom.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £350 per calendar month.
Outside
Communal space to rear.
Council Tax Band
All flats are 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
