London Road, Worcester

DESCRIPTION Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £150,000

***FREEHOLD INVESTMENT OPPORTUNITY***CURRENTLY LET AT £1350pcm REPRESENTING A 9% Yield*** This centrally located mid terraced property currently offers two apartments over three floors and has the potential for mixed usage development and investment. The property briefly comprises frontage onto London Road, entrance hall, downstairs one bedroom apartment with open plan living area, double bedroom and fitted shower room. The first and second floors offer a duplex apartment benefitting from a spacious living area and recently updated breakfast kitchen, two bedrooms and a fitted shower room. Further benefits include electric heating, double glazing throughout and a residential rental yield in excess of 9%. 

KEY INFORMATION 6A London Road is a chain- free and a freehold investment property

The property is being sold with tenants insitu

The first floor apartment is £775 pcm, Approx 54 sq metres, Energy Certificate - D which is valid until 2033,

The ground floor apartment is £575 pcm, Approx 44 sq metres, Energy Certificate E which is valid until 2032

Both apartments are completely separate, having their own tax bands and utilities

Both tenants have contracts with the National Residential Landlords' Association NRLA) and their deposits are via the NRLA with The Tenants' Deposit Scheme (TDS, Custodial)

GROUND FLOOR RECEPTION
18' 11" x 8' 07" (5.77m x 2.62m)

GROUND FLOOR BEDROOM
9' 03" x 8' 06" (2.82m x 2.59m)

FRIST FLOOR RECEPTION
18' 09" x 11' 06" MAX (5.72m x 3.51m)

FIRST FLOOR KITCHEN
15' 03" x 8' 06" (4.65m x 2.59m)

SECOND FLOOR BEDROOM 1
8' 07" x 8' 02" (2.62m x 2.49m)

SECOND FLOOR BEDROOM 2
7' 01" x 7' 00" (2.16m x 2.13m)

SECOND FLOOR SHOWER ROOM
7' 02" x 5' 07" (2.18m x 1.7m)

 

LOCATION Worcester is a cathedral city with a population of over 100,000 people and provides a comprehensive range of shopping and leisure facilities as well as three railway stations and easy motorway access. It's famous for Royal Worcester Porcelain, Lea and Perrins Worcester Sauce. Worcester's newspaper, Berrow's Worcester Journal is considered to be the oldest newspaper in the world. The world famous composer Edward Elgar who's famous for The Enigma Variations and The Pomp and Circumstances Marches, lived in Worcestershire. Worcester has its own university and a large library at The Hive.  

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'.

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 Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
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. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

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.

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 equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. 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 necessary or beneficial to the customer to pass their 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.