No longer on the market
This property is no longer on the market
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Floorplans (
Map3 bedroom property
Key information
Features and description
- Total combined GIA of approximately 1,222 sqft
- Residential investment
- Annual income is around £95,000
- Gross yield of 13.89%
- Early viewing by Virtual Tour
- Two self-contained 3 bedroom flats
Video tours
We are pleased to offer to auction this residential investment comprising of two self-contained 3 bedroom flats over the first and second floors. With almost 100% occupancy on a nightly rent of £135 with Brent Council, the annual income is around £95,000 providing a gross yield of 13.89%.
A third flat on the third floor has been sold off with a ground rent of £50 per annum.
The 2 self contained three bedroom flats on the first and second floor have a total combined GIA of approximately 1,222 sq ft. leasehold.
Flat 1 is held on a 125 year lease less three days from 1st May 1988 (thus approximately 89 years unexpired). Flat 2 is held on a 125 year lease from 1st May 1988 (thus approximately 89 years unexpired).
Early viewing by Virtual Tour and negotiation is recommended initially.
Please note we have not inspected this property.
Rooms
Location
The subject property is located along Malvern Road, Brent. Malvern Road is a mixed use street and has great transport links. London city centre is approximately 4.3 miles away. Brent is a borough in north-west London, England. It is known for landmarks such as Wembley Stadium, the Swaminarayan Temple and the Kiln Theatre. It also contains the Welsh Harp reservoir and the Park Royal commercial estate.
Accommodation
Residential investment comprising of two self-contained 3 bedroom flats over the first and second floors. The 2 self contained three bedroom flats on the first and second floor have a total combined GIA of approximately 1,222 sq ft. leasehold.
Tenure
Freehold. Title number MX469084.
Council Tax
Band C.
EPC
All available upon request (rating D).
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 inquiry, bid or viewing of the subject property will require your details to be 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 by, 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 and 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 exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from 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.
Both the Marketing Agent and 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 indeed obligation to use these recommended suppliers or services.
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