Cherry Orchard, Staines-Upon-Thames, TW18

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £725,000

Investment Opportunity – Eight-Bedroom Georgian HMO, Staines

An excellent investment opportunity to acquire a freehold Georgian property arranged as an eight-bedroom House in Multiple Occupation (HMO), offered fully occupied and generating an annual rental income of £75,780.

Each of the eight double bedrooms benefits from its own en-suite shower room, comprising a shower, wash basin and WC. In addition, every room is furnished and equipped with a kitchenette incorporating a built-in electric hob, sink and under-counter fridge, providing convenient independent living facilities for residents.

The property also benefits from two communal bathrooms, each fitted with a shower, wash basin and WC. Shared laundry facilities, comprising washing machines and tumble dryers, are available on both the ground and first floors for residents’ use.

Further features include a fire alarm system and emergency lighting. To the rear, a door provides access to a patio area and off-street parking for approximately six vehicles. To the front, the property enjoys a mature garden and an additional off-street parking space.

Situated within a leafy residential area of Staines-upon-Thames, the property is conveniently located within walking distance of Staines railway station, the River Thames and a range of local amenities.

Key Investment Highlights

• Freehold Georgian property

• Eight-bedroom HMO

• Fully occupied

• Annual rental income of £75,780

• Eight furnished double bedrooms, each with an en-suite shower room and kitchenette

• Two additional communal bathrooms

• Shared laundry facilities on two floors

• Fire alarm system and emergency lighting

• Off-street parking for approximately seven vehicles in total, subject to confirmation

• Front garden and rear patio area

• Convenient access to Staines railway station, the River Thames and local amenities

This property presents an opportunity for investors seeking an established HMO investment with existing rental income in a desirable Staines location.

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.

The advertised price is commonly ref erred 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.

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

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.