A tenanted leasehold studio flat in Hartlepool with a gross annual yield of 18% (Title number: CE198467)
FOR SALE BY AUCTION: To be sold by public auction on the owners' instruction. A tenanted leasehold studio flat in Hartlepool with a gross annual yield of 18% . To be sold via online bidding on Friday, 12 April 2024.
Auctioneers comments: 'An opportunity to bid for and buy a cash flowing asset making a gross annual yield of 18% on the listing guide price.'
Auction date
The property is to be sold by public auction on Friday 12 April 2024 via a 2-hour online bidding window.
To view
The property can be viewed by booking onto one of the advertised managed block viewings. Once you have registered to bid by setting up your online bidding account, you will be emailed a Calendly link to do this. Each block viewing is strictly 30 minutes, and no ad hoc viewings will be available. In most cases, a video tour will be available.
Description
Tananted mid-floor studio flat
Location
Hartlepool, County Durham, 0.1 miles to Hartlepool railway station
Accommodation
Studio area with kitchen, bathroom, cloakroom
Outside
Communal entrance
EPC rating
To be confirmed
Tenure
Leasehold
125 years from 1 January 2007
Local authority and council tax band
Hartlepool Borough Council
Council tax band: A
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 2% plus VAT (min. fee of £2,100 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 100 - 5 Tower Chamber Apartments Tower House, 5 Tower Street, Hartlepool, Cleveland, TS24 7HH
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Virtual Tour
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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.