Twenty Twenty, Skinner Lane, Leeds, West Yorkshire, LS7 1BF

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A purpose-built two-bedroom, tenanted mid-floor apartment in Leeds city centre. It is currently tenanted and receiving rent of £775 PCM. (Title number WYK887824)

SOLD PRIOR TO AUCTION: To be sold by public auction at the owner's instruction. A purpose-built two-bedroom, tenanted mid-floor apartment in Leeds city centre. It is currently tenanted and receiving rent of £775 PCM. The apartment measures approximately 525 SQFT internally and has been assessed as EPC B. Leasehold 107 years.

Auctioneers Comments: 'This Lot offers investors the opportunity to acquire a modern, purpose-built property with immediate cash flow, making this Leeds city centre apartment an attractive proposition.'

Auction date
The property is to be sold by public auction on Friday, 22 September 2023, via a 2-hour online bidding window.

Description
Two bedrooms, purpose-built, 525 SQFT, tenanted, £775 PCM

Location
Leeds city centre, Yorkshire

Accommodation
Mid-floor: two bedrooms, bathroom, kitchen/living room

Outside
Communal areas

EPC rating
B

Tenure
Leasehold
125 years from 1 June 2005

Local authority and council tax band
Leeds City Council
Council tax band: C

Pre-auction bids
To make a pre-auction bid, you must be an approved bidder. Once you have set up your online bidding account, verified your ID and paid the security deposit, you can email the amount you would like to bid. The common auction conditions and special conditions apply to all pre-auction bids, and no conditions will be acceptable. Should your pre-auction bid be accepted, you will need to immediately pay the balance of the 10% deposit (min. £5,000) and all auction fees listed. The Auctioneer reserves the right to refuse any bid.

Auction fees
In addition to the 10% deposit (min. £5,000) of your winning bid, you must pay an auction buying commission of 3% plus VAT (min. fee of £3,600 plus VAT) of the purchase price and auction buying fee of £1,900 plus VAT. Please be aware that additional fees may be payable on completion, including disbursements in the legal pack. Check the legal pack for each lot you are interested in before bidding.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Lot 70 - Twenty Twenty, 232 Skinner Lane, Leeds, West Yorkshire, LS7 1BF

Unconditional Online Auction Sale

Guide Price* £70,000

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Agreement Documents

Terms & Conditions

Additional Documents

Guide to Buying at Auction

Related Documents

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Lot 70 Video Tour

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Help on Bidding

Bidding Overview

When the auction is open, you can place bids in line with the pre-determined bid increment levels using the bid increase (+) and bid decrease (–) buttons provided.

Every time you place a bid you will be asked to confirm your bid before submitting it, and you will be clearly shown on the screen whether your bid was successful.

A full list of all bids placed is displayed in the bid history table.

Maximum (Proxy) Bids

You are not restricted to placing a bid at the minimum bid amount, but can instead increase your bid and place a maximum (proxy) bid in the system. By setting a maximum bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your maximum bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.

If two or more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.

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Reserve Prices

Virtually every lot is sold subject to a reserve price (the minimum price that the auctioneer is authorised to sell for). When you submit a maximum bid, the actual bid placed by the system will depend on whether the reserve price has been met, as defined below.

If your maximum bid is below the reserve price

The system will place an immediate bid at your maximum bid amount.

If your maximum bid is at or above the reserve price

The system will automatically increase your bid to be at the reserve, and will only bid again on your behalf if you are subsequently outbid by another bidder (up to your maximum bid amount).

If another bidder has already placed the same maximum bid or higher, they will be the highest bidder and the system will notify you via email so you can place another bid.

NB : Your maximum bid is kept completely confidential – it's presence or amount are not disclosed to the auctioneer, vendor or any other bidder.

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Bidding Example

The current bid on a lot is £90,000. The reserve price has been set at £100,000 (not disclosed).

Tom wants to bid. The minimum bid amount is £91,000 but Tom decides to place a maximum bid of £97,000. This is below the reserve price, so the system places a bid for Tom at his maximum bid amount and he becomes the highest bidder at £97,000.

Jane logs on to bid. The minimum bid amount is £98,000 but Jane places a maximum bid of £105,000. The system automatically increases Jane's bid to meet the reserve and she is now the highest bidder at £100,000.

Tom is notified that he has been outbid. If no further bids are placed Jane would win the lot for £100,000.

Tom places a bid of £101,000, and Jane’s proxy bid instantaneously outbids him at £102,000 as this is the lowest bid required to make her the highest bidder.

Tom then places a maximum bid of £105,000. The current bid jumps to £105,000 with Jane as the highest bidder as she placed a proxy bid for that amount before Tom did.

Tom then places a bid at £106,000 and wins the lot as there are no other bids and it is above reserve.

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Timing and Bid Extensions

The online auction will close as per the advertised 'End Date'. However, if a bid is placed within the final 60 seconds of the auction's scheduled end time, the auction will be extended by an additional 60 seconds – known as the 'bidding extension window'.

If a bid is placed in the 'bidding extension window', the countdown clock will immediately reset to 60 seconds again, and the auction will only finish when an entire 60 second bidding extension window passes without any further bids being placed, i.e. 60 seconds of 'bidding silence'.")

NB: Do not leave placing your bid to the last few seconds. It gives you no advantage, you risk your bid not being received by the server in time and you could lose the lot to another bidder.

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NB: Please note that the way the bidding works may vary slightly from auctioneer to auctioneer. We strongly advise you to read the bidding guide for any auction you plan to bid on.

By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.

If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.

Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.

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