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2 bedroom apartment for sale

Lorne Park Road, Bournemouth, Dorset, BH1 1JL

Sold STC £100,000

Property Description

Key features

  • First Floor Property Arranged As 2 Letting Units
  • Excellent Yield Of 11.5% - Scope For Speculators
  • Ideal Investment Or Speculative Purchase

Full description

Tenure: Leasehold

To be sold by Public Auction on 8th December 2016 at The Macdonald Botley Park Hotel, Winchester Road, Boorley Green, Southampton, SO32 2UA

Mondays & Wednesdays 10:00am - 10:40am starting 21st November.
OPEN HOUSE VIEWINGS! Staff will automatically be at the property on the days and times above. Please ensure you arrive promptly at the start time as staff will have to leave sharply at the end of the viewing.

FULL ADDRESS: Flats 2 & 2a, 39 Lorne Park Road, BH1 1JL.

FOR A FULL LIST OF OUR PROPERTIES & LEGAL PACKS, PLEASE VISIT OUR WEBSITE WWW.FOXANDSONSAUCTIONS.CO.UK

FOR A FULL LIST OF OUR PROPERTIES, PLEASE VISIT OUR WEBSITE WWW.FOXANDSONSAUCTIONS.CO.UK

First Floor Property Arranged As 2 Letting Units
Excellent Yield Of 11.5% - Scope For Speculators
Ideal Investment Or Speculative Purchase

Tenure:Leasehold

Location:Lorne Park Road is located immediately north of Old Christchurch Road in the very heart of Bournemouth town centre. The area has a vibrant atmosphere with many bars and restaurants in the immediate vicinity, making it a highly sought after investment location.

Description:Flats 2 & 2a are 1 x 1 bedroom and 1 x studio apartments presented in good condition, with tenants in situ achieving a total of £1,150pcm (£13,800 pa), making this a desirable lot for landlords. We feel these two units could very easily be combined again to form a two bedroom two bathroom flat, increasing the end value significantly.

Accommodation:GROUND FLOOR: Communal Entrance with Door Entry System. Stairs to all Floors.
FIRST FLOOR: Landing with doors to:
FLAT 2: Entrance Hall, Living Room, Kitchen, Bedroom, Bathroom, private secure outside Courtyard.
FLAT 2a: Studio Room with Kitchenette, Shower Room.

Lease Details:The Lease is dated 2nd June 2011 for a term of 99 years commencing 2nd June 2011.

Tenancy Details:Flat 2: Let on a 6 month AST dated 22nd July 2016 at £600pcm.
Flat 2a: Let on a 7 month AST with 6 month break clause dated 15th November 2016 at £550pcm inclusive of electricity (capped at £45pcm).
Copies of the tenancy agreements will be included in the legal pack and all prospective buyers are advised to satisfy any enquiries regarding the status of the tenancies prior to bidding.

Agents Note:Both of these units are held on one leasehold title. Prospective buyers are advised to have ensured any required finance is in place prior to bidding.

IMPORTANT NOTICE: The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if

appropriate the auctioneers may adjust the guide price to reflect this.

Listing History

Added on Rightmove:
16 November 2016

Map & Street View

Disclaimer - Property reference 55353. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Fox & Sons, Southampton Auctions. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Fox & Sons, Southampton Auctions on 02380 338066.


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