LOT
86
Sold for £220,000
A high yielding multi faceted freehold investment opportunity, comprising of four x one bedroom flats, a ground floor retail premises, garage and additional enclosed yard space with 2 vacant storage facilities offering the potential for further income/potential redevelopment subject to any requisite consents. The retail unit is currently let and generating £400 pcm/£4,800 pae. Three of the flats are currently let on rolling AST's at modest rents of £425pcm/£5,1000 per flat, with the potential for increased rents of circa £600 pcm, with the fourth flat currently vacant but ready to let and refurbished. The garage is also currently let at £100 pcm/£1,200 pae, with the current total combined income of £21,300 pae/£26,400 when fully let.
Marlborough Street is situated in the heart of Devonport offering a wide selection of shops, mini supermakets and food outlets. Set in the historic Naval Quarter of Plymouth the area is home to HMNB Devonport and is a regenerating neighbourhood with many of its historic buildings having been converted into luxury apartments.
Self contained shop unit comprising of main retail area, inner hallway/storage with access to the rear courtyard and a rear office/storage area, totalling 73 square metres and with a VOA rating of £8,000.
Separate access to the communal entrance hall to the flats and stairs rising to all floors.
Communal landing with access to the fire escape.
Flat 1: Open plan lounge/kitchen/diner, double bedroom and shower room.
Flat 2: Entrance hall, open plan lounge/kitchen/diner, double bedroom and shower room.
Flat 3: Entrance hall, open plan lounge/kitchen/diner, double bedroom and shower room.
Flat 4: Living room, kitchen, double bedroom and bathroom.
Fully enclosed rear courtyard with two vacant storage facilities, WC, yard space and garage, with pedestrian gateway.
Strictly by prior appointment with Fulfords Drake Circus 01752 223355. General enquiries Countrywide Property Auctions 01395 275691.
Shop - E, Flat 1 - D, Flat 2 - D, Flat 3 - C, Flat 4 - TBC
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GUIDE PRICES & RESERVE PRICES
Guide Price
An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Reserve Price
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
23 Marlborough Street, Plymouth PL1 4AE
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An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
You will also pay a Buyers Administration Charge, to the auctioneers of 1.35%+VAT of the purchase price subject to a minimum fee of £1,800 + VAT (unless otherwise stated in the property description in the catalogue or addendum).
You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not inspected or had initial sight of tenancy details, and have checked the General and Special Conditions of Sale and are satisfied that you fully understand their content. Please note that some legal packs may contain additional fees (such as the requirement for the seller to pay the vendor's legal fees).
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