London Road, Balderton, Newark, Nottinghamshire, NG24 3BN

Location

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.

Accommodation

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.

Accommodation

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.

Tenure

NT285201 - Freehold

Council tax

Band E

EPC

EPC rating C

Additional information

For further information please contact the team on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

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 or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this 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. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.