London Road, New Balderton, NG24

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £360,000 Auction End Date is 30th September at 2.00pm

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

Representing a rare and exciting opportunity for those seeking a family home combined with an established income-generating business, this spacious detached property incorporates a separate three bedroom home and four fully self-contained one-bedroom studio units, each offering excellent privacy and independent access.

The four studios are arranged to provide a bedroom/living area, kitchenette and ensuite bathroom, with each unit benefiting from its own separate entrance and being completely private from both the other studios and the main residence. Based on 50 weeks' rental income, the studios offer a potential gross rental income of approximately £44,000 per annum, with actual income dependent upon occupancy.

The main residence provides comfortable and well-proportioned accommodation and offers the ideal opportunity for an owner to live on site while managing the business, although the property could equally be considered as a wider investment opportunity. The accommodation comprises an entrance hall, spacious living room, kitchen open plan to a dining room with a useful utility room off, while to the first floor are three generous bedrooms, including a principal bedroom with ensuite bathroom and a large dressing area, together with a further family bathroom.

Externally, the property benefits from a large block-paved driveway providing parking for multiple vehicles, together with a generous, low-maintenance rear garden. Further benefits include gas central heating and UPVC double glazing.

The main house could also potentially generate rental income of around £12,000 per annum, giving a combined potential gross rental income in excess of £65,000 per annum when fully occupied. The property is being offered for sale due to the current owners' retirement, providing a particularly interesting opportunity for an incoming purchaser to continue the existing business model, subject to their own requirements and any necessary consents. Income multiples and returns will naturally be dependent upon occupancy levels.

Situated within a popular residential location in Newark, the property combines substantial living accommodation with an attractive income-producing opportunity and is likely to appeal to investors, owner-occupiers looking for a live/work arrangement, or those seeking an established business opportunity with significant further potential.

The Interactive Property Report can be viewed on the following web portals, UNDER THE VIRTUAL TOUR TAB on Rightmove, Zoopla, and On The Market. FURTHER MATERIAL INFORMATION FOR THIS PROPERTY can be found within the report and includes a wealth of material including information on - Title Plan and Plot, Maps, House Price Statistics, Flood Risk, Media Availability, In depth Local School Information, Transport Links, etc.

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.

Auctioneers Additional Comments Continued...

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. The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’. These prices are subject to change.

Auctioneers Additional Comments Continued...

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. 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 Continued...

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 nonrefundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 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.

Balderton

Balderton Is situated on the edge of Newark to the southeast. It has a wealth of amenities including 2 primary schools and a secondary school, shops, Sainsburys and Lidl supermarkets, Post Office, various public houses and takeaways, a Doctors/Medical centre, vets and a regular bus service into Newark town centre.

Entrance Hall

1.65m x 1.5m

5' 5" x 4' 11"

Lounge

6.83m x 5.36m

22' 5" x 17' 7"
maximum measurements

Dining Room

3.33m x 3.12m

10' 11" x 10' 3"
majority measurements

Kitchen

3.43m x 3.35m

11' 3" x 11' 0"

Bedroom One

4.9m x 2.69m

16' 1" x 8' 10"

Dressing Area

3.96m x 3.33m

13' 0" x 10' 11"
maximum measurements

Ensuite Bathroom

2.69m x 2.01m

8' 10" x 6' 7"

Bedroom Two

3.35m x 3.02m

11' 0" x 9' 11"

Bedroom Three

3.02m x 2.44m

9' 11" x 8' 0"

Family Bathroom

4.24m x 3m

13' 11" x 9' 10"
maximum measurements

Studio One Living/Bedroom

8.48m x 2.74m

27' 10" x 9' 0"
maximum measurements

Studio One Kitchenette

3.45m x 1.25m

11' 4" x 4' 1"

Studio One Bathroom

1.93m x 1.78m

6' 4" x 5' 10"

Studio Two Living/Bedroom

5.82m x 4.67m

19' 1" x 15' 4"
maximum measurements

Studio Two Bathroom

1.68m x 1.45m

5' 6" x 4' 9"

Studio Three Living/Bedroom

5.82m x 3.76m

19' 1" x 12' 4"
maximum measurements

Studio Three Bathroom

2.08m x 1.47m

6' 10" x 4' 10"

Studio Four Living/Bedroom

5.13m x 5.05m

16' 10" x 16' 7"
maximum measurements

Studio Four Bathroom

1.75m x 1.57m

5' 9" x 5' 2"

Services

Mains gas, electricity, water and drainage are connected.

Square Footage

The square footage for this property is approximately 2,710 sq ft.
Please note whilst every care is taken in providing this information as accurately as possible, this figure is calculated whilst creating the property’s floor plan, which does not factor in a number of potential variations including wall thickness, curves, triangular walls, chimney breasts etc and alterations to the floorplan to ensure it is representative of the property’s layout. The square footage may also include garages, porches, outbuildings, garden buildings and external corridors where applicable, please contact the office for further information/clarification.
The EPC and Interactive Property Report may show a different total square footage.

Agent's Note - Sales Particulars

Although these particulars are thought to be materially correct, their accuracy cannot be guaranteed, and they do not form part of any contract. All services, heating systems and appliances have not and will not be tested, and no guarantees have been provided for any aspects of the property, measurements are taken internally and cannot be assumed to be accurate, they are given as a guide only.

Anti-Money Laundering Regulations

Intending purchasers will be asked to confirm their identity at the offer stage and we ask for your co-operation in order that there will be no delay in agreeing a sale.

Referrals

Newton Fallowell Newark and our partners provide a range of services to our vendors and buyers. Conveyancing - If you require a solicitor to handle your sale or purchase, we can refer you on to a panel of preferred providers, we may receive a referral of up to £350 if you choose to use their services, there is no obligation to use solicitors we refer to. Mortgage Advice - Correct budgeting is crucial before committing to purchasing a property. You are free to arrange your own advice, but we can refer you to the Mortgage Advice Bureau who are in house for specialist advice on 1000s of mortgage deals if required. Please be aware that we may receive a fee of £332 if you ultimately choose to arrange a mortgage/insurance through them. Property Surveys - If you require a property survey of any kind, we can refer you to an RICS surveyor, and we may receive a referral fee of up to £30 should you choose to arrange a survey through them. For more information, please call the office.