6 bedroom property
Key information
Features and description
- Substantial Mid Terraced House
- Investment opportunity
- Freehold title
- Established residential area
- Close to town centre
- Residents parking permit
We are pleased to offer to auction this fantastic investment opportunity located along Ashleigh Road, Barnstaple. The property is located within an established residential area with easy access to local amenities and transport links. The property comprises of a six bedroom with two separate flats all within one building. To the ground floor is two bedroom, communal kitchen, shared yard, store room and a seperate one bedroom flat with an open plan kitchen, shower room, WC, living room and access to the shared yard. The first floor consists of four bedrooms and a shared shower room. To the second floor is flat two which includes a living room, kitchen, bedroom, shower and store room. The property is currently generating an income of £25,776 per annum with potential to increase once fully tenanted. We are advised due to Covid the rent increase is 14 months over due and the application is currently being processed for HMO full License.
Please note that we have not inspected this property.
Rooms
Location
The subject property is located along Ashleigh Road, Barnstaple. The property is located within an established residential area with easy access to local amenities and transport links. The property is also within walking distance to Barnstaple Town Centre making it an ideal location.
Accommodation
GROUND FLOOR
Bedroom 1
Bedroom 2
Communal kitchen
Shared yard
Store
GROUND FLOOR FLAT 1
Living room
Open plan kitchen
Bedroom
Shower room
Separate WC
Access to shared yard from living area
FIRST FLOOR
Bedroom 3
Bedroom 4
Bedroom 5
Bedroom 6
Shared shower
SECOND FLOOR / LOFT FLAT
Living room
Kitchen
Bedroom
Shower
Store
OUTSIDE
To the front of the property is a small garden area and a pathway which leads to the main entrance door. There is roadside residents parking located close by and to the rear is a shared communal courtyard garden. The access to flat one is via the shared courtyard.
Tenancy Information
Room 1 tenanted at £346 pcm on a rolling basis
Room 2 tenanted at £346 pcm on a rolling basis
Room 3 is vacant
Room 4 tenanted at £260 pcm, expiring on the 31st of July 2021
Room 5 tenanted at £346 pcm on a rolling basis
Room 6 is vacant
Second floor tenanted at £400 pcm on a rolling basis
Ground floor flat tenanted £450 pcm on a rolling basis
Total income £25,776 per annum
Tenure
Freehold. Title number DN220800.
EPC
Available upon request (rating E).
Council Tax
The subject property is of council tax band B.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon agreement of sale, the successful bidder will be expected to pay a non-refundable deposit and or reservation fee of up to 6% inc VAT (subject to a minimum of between £2,400 and 6,000 inc VAT dependant on geographical location and contract type) Full terms and conditions are available on The Auctioneers website.
The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or obligation to use these recommended suppliers or services.