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No longer on the market

This property is no longer on the market

1 bedroom apartment

Auction
Apartment
1 bed
1 bath
473 sq ft / 44 sq m
EPC rating: B
Added > 14 days

Key information

TenureLeasehold
Council taxAsk agent
BroadbandUltra-fast 1000Mbps *
Mobile signal
EEO2ThreeVodafone

Features and description

  • Tenure: Leasehold
  • For sale by online auction
  • 6 weeks’ completion
  • Apartment
  • One bedroom
  • Requires refurbishment
  • Tenant in situ - leasehold

Video tours

Situated within a popular development is this one bedroom apartment, close to Reading town centre with access to junction 11 of the M4. Kennet Island provides access to frequent local bus routes, amenities, and rail connections from both Reading and Green Park stations. With a tenant already in place, paying £12,600 per year, this property presents an excellent investment opportunity, delivering a 10% gross rental yield.

Rooms

Auction
To be sold by online auction (unconditional) on Thursday 27th February 2025 with a 6 WEEK COMPLETION, bidding will open at 10.00.

To view
Viewings will be conducted prior to the auction, please visit our website to book an appointment at firstforauctions.co.uk

Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.

Tenure
Leasehold - Tenant in situ

Lease
999 years from 1st January 2006 - 979 years remaining

Tenancies
Currently let on an AST from 17 February 2023 for 6 months at £995 PCM.

Ground rent and service charge
Please see legal pack for further details.

EPC rating
B

Council tax band
C - Reading

Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.

Guide prices
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a Reserve, (a figure below which the Auctioneer cannot sell the lot during the auction) which we expect will be set within the Guide Range, or no more than 10% above a single figure Guide Price.

Additional fees
A buyers charge of £1,500 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Deposit
If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.

Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".

Mortgage finance
We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.

Visit agent website

About this agent

Romans - Reading
Romans - Reading
33-34 Market Place Reading RG1 2DE
0118 443 3655
Full profileProperty listings
Our service has evolved over the years into one we hope meets all of your property needs from offering a range of property services, ensuring our staff are
local, knowledgeable, and friendly - and know how to deliver excellent service. Giving you the best levels of service, expertise and advice requires expert local
knowledge which is why we employ locally based team members and provide them with award-winning training to deliver the high standards you deserve.
Our property services include residential sales, lettings and property management, financial advice, conveyancing, surveys and valuations, prop... Show more
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