A freehold block of five tenanted flats in need of modernisation with a gross annual yield of £28,584 (15%) in historic Liskeard, Cornwall. (Title number: CL159550)
FOR SALE BY AUCTION: To be sold by public auction on the owner's instruction. A freehold block of five tenanted flats in need of modernisation and repair with a gross annual yield of £28,584 (15%) in historic Liskeard, Cornwall. It comprises of a tenanted ground floor studio maisonette, a tenanted ground floor one-bedroom flat, a tenanted one-bedroom first-floor flat, a tenanted two-bedroom first-floor flat and a tenanted two bedroom second-floor flat. To be sold via online bidding on Friday, 13 September 2024.
Auctioneers comments: 'A unique opportunity to buy a freehold block of five tenanted flats in need of modernisation and repair with a gross annual yield of £28,584 (15%) in historic Liskeard, Cornwall.'
Auction date
The property is to be sold by public auction on Friday, 13 September 2024 via a 2-hour online bidding window.
Description
Five tenanted flats, freehold, central Liskeard, Cornwall
Location
Liskeard, Cornwall, South West England, 0.3 miles to Liskeard railway station
Accommodation
Flat 1: first floor, one bedroom (3.086m x 2.581m), shower room (2.489m x 1.689m), living room (3.337m x 4.492m), kitchen (2.043m x 2.534m) approx. 420 sqft
Flat 2: first floor, two bedrooms (3.761m x 2.922m, 4.987m 3.335m), living room (4.159m x 3.782m), kitchen (2.408m x 3.710m), shower room (1.644m x 1.770m), approx. 775 sqft
Flat 3: second floor, two bedrooms (3.676m x 3.574m, 4.187m x 2.258m), living room (4.85m x 3.857m), kitchen (2.207m x 3.741m), shower room (2.321m x 1.832m), approx. 678 sqft
Flat 4: ground floor, reception (2.051m x 4.418m), studio living area (4.009m x 4.403m), kitchen, shower room (1.324m x 3.147m), WC, approx. 323 sqft
Flat 5: ground floor, living room (3.249m x 3.265m), bedroom (2.346m x 3.232m), shower room (1.216m x 3.192m), approx. 258 sqft
Outside
Side aspect bricked patio area over two levels
EPC rating
Flat 1: E
Flat 2: E
Flat 3: E
Flat 4: E
Flat 5: D
Tenure
Freehold
Assured Shorthold Tenancy Rent Schedule
Flat 1: £450.00 PCM
Flat 2: £519.75 PCM
Flat 3: £456.75 PCM
Flat 4: £498.75 PCM
Flat 5: £456.75 PCM
Note: the signed tenancy agreement rental amounts differ for certain flats due to Section 13 rent increases over time (see legal documents)
Local authority and council tax band
Cornwall Council
Council tax band: A (all flats)
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 2.5% 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 108 - Elizabeth House, Church Street, Liskeard, Cornwall, PL14 3AG
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