Property description

A Freehold detached purpose built block arranged as eight studio flats which has the benefit of planning permission to include 2 further 1 bedroomed flats and to change the internal layout to 8 x 1 bedroomed flats with an annual achievable rental income of £47,268 based upon 1 bed LHA rate.

Suitable for redevelopment (subject to obtaining all relevant consents). The property has been affected by fire damage and therefore requires a programme of refurbishment. Once refurbished the property has a potential rental income of £47,268 per annum based on 1 bedroom LHA rates.

Planning ref: 15F/2683

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.

Property Features :

• SUTTON KERSH ARE PLEASED TO OFFER FOR SALE BY PUBLIC AUCTION ON : 26-MAY-2016
• LOT NUMBER : 44
• BLOCK OF 8 FLATS SUFFERING FROM FIRE DAMAGE. IN NEED OF FULL REPAIR AND MODERNISATION.
• Vacant Residential