A five bedroom licensed house of multiple occupancy in a freehold terrace house with a gross annual yield of £20,540.04 (22.8%). (Title number: HS336232)
FOR SALE BY AUCTION: FOR SALE BY AUCTION: To be sold by public auction on the owner's instruction. A five bedroom licensed house of multiple occupancy in a freehold terrace house with a gross annual yield of £20,540.04 (22.8%). The property is fully occupied and located opposite Sidney Park in Cleethorpes, Grimsby. To be sold via online bidding on Friday, 27 September 2024.
Auctioneers comments: 'An opportunity to buy a well maintained and fully occupied HMO with a yield of 18.6%, ideal for investors looking for a cash flowing asset.'
Auction date
The property is to be sold by public auction on Friday, 27 September 2024 via a 2-hour online bidding window.
Description
Five occupied rooms, living room, house of multiple occupancy, terrace house, freehold
Location
Cleethorpes, Grimsby, South Humberside, 1.1 miles to Cleethorpes railway station
Accommodation
Ground floor: room 1, room 2, living room, kitchen, WC
First floor: bathroom, room 3, room 4, room 5
Outside
Front yard, rear garden
EPC rating
E
Tenure
Freehold
Tenancy rent schedule
Room 1: £325.00 PCM
Room 2: £325.00 PCM
Room 3: £346.67 PCM
Room 4: £368.33 PCM
Room 5: £346.67 PCM
Local authority and council tax band
North East Lincolnshire 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 2.5% 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 109 - 193 Brereton Avenue, Cleethorpes, South Humberside, DN35 7RG
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