LOT
23
£220,000+*
Guide price (+ fees)
A terraced building which comprises of four flats suitable for letting and one commercial rental unit which is already tenanted. At the time of instruction, one flat and the commercial unit are tenanted. The property also benefits from a cellar area and a garage space which is part of the rental agreement on the commercial tenancy. If the building was to be fully occupied with tenants in each unit, the property could generate between £26,500 PAE and £29,000 PAE depending on the length of time the tenants are in situ.
Embankment Road is located in the Prince Rock ward of Plymouth, on the South Devon coast. The property is situated circa. 1.3 miles from Drakes Circus shopping centre and 1.7 miles from the main train station for the city. Plymouth is well known for its history and Royal Navy connections and benefits from a vast range of bars and restaurants.
Tenanted at the time of instruction for £500 PCM/£6000 PAE which includes the shop area, basement and garage in the rental agreement. This rental income is subject to a rent review during the marketing period for auction. For updates on this, please refer to the legal pack.
Flat one consists of a vacant one bedroom apartment. Flat two is a one bedroom vacant apartment. Flat three is an occupied rental unit currently tenanted for £475 PCM/£5700 PA featuring one bedroom. Flat four is vacant with one to two bedrooms.
Please be advised that this purchase will consist of obtaining the freehold for the entire building and the leases included in one transaction. One apartment is attached to the freehold of the building. Please refer to the legal pack for further information. Any prospective purchasers should seek guidance on letting agreements via their own investigations.
Energy Efficiency Ratings: Flat 1- D. Flat 2 - D. Flat 3 - F. Flat 4 - C.
Commercial Energy Efficiency Rating - TBC
Lucy Fuller
Strictly by appointment only with Fulfords Drakes Circus 01752 223355. General enquiries Countrywide Property Auctions 01395 275691.
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.
86 Embankment Road, Plymouth PL4 9HY
Simply fill in and send the form and one of our consultants will get in touch with you shortly.
Please note that fields marked with * are mandatory.
Your information is being collected and processed by Countrywide. All information will be processed in accordance with the General Data Protection Regulation. Full details of how we process your information can be found on our website Privacy Policy. Print copies of our privacy notice are available on request. If you need to discuss how your information is being processed, please contact us at privacy@countrywide.co.uk
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.
A successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,800 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer.
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).
In association with
Countrywide Property Auctions is a trading name of Countrywide Estate Agents Limited, Registered in England Number 00789476.
Registered Office - Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN.
