Terraced house for saleHartington Road, Middlesbrough, TS1
GREAT NORTH PROPERTY AUCTION - START BID £170,000- BUYERS PREMIUM PAYABLE. Tenanted Investment with an income of £33,280 per annum. Fully furnished 8 bedroom student property (1-5 Hartington Road). Comprising of a fully equiped kitchen/ diner, living room, 8 bedrooms with ensuite (all ground floor bedrooms) or private bathroom facilities.
Also including a self contained warehouse/ workshop with gated parking (4 Harris Street) with secure palisade fencing. Available vacant possession or the current owner would be prepared to lease at a figure of £8400 per annum. Additional income of £720 per annum for a parking space to a neighbouring property (informal agreement). Total income per annum £42,400 per annum.
The property is situated on the north side of Hartington Road, Middlesbrough on a prominent roadside position close to the junction with Newport Road and directly opposite the Travelodge Hotel.
The current managing agent specialise in providing student accommodation for Teesside University. Further details can be obtained from - email@example.com.
For Sale By Auction - Starting Bids £170,000
Accommodation 189.98 sq m 2045 sq ft (approx)
Workshop 152.90 sq m 2045 sq ft (approx)
Conveniently located for access to Middlesbrough town centre both on foot and by road, the premises benefit from high levels of passing vehicular trade being located at a busy road intersection linking Borough Road to the south with the A66 dual carriageway to the north. Neighbouring occupiers include, amongst others, Nevisport, a Chinese Restaurant, a Bridal Boutique and an Aldi Supermarket.
For Sale By Modern Auction
8 Bedroom Student HMO with an Income of £33,280 per annum
Warehouse/ Workshop with a potential Income of £8400 per annum
Additional £720 income (informal agreement)
TOTAL INCOME £42,400 per annum
For Sale by Modern Auction. Please refer to notes.
Enquiries regarding the rateable value and details of precise amounts payable should be directed to the relevant Local Authority.
All offers where made silent of VAT are deemed to be made exclusive thereof.
By appointment through the Sole Agents, Browns Commercial Tel: 01642 607607
All measurements are approximate and are for guidance purposes only.
VIEWING Strictly by appointment only through agents. AUCTIONEERS COMMENTS The property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer's solicitor is in receipt of the draft contracts and further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts and offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of £5,000 plus VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed Reserve Price which is generally no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by Great North Property Auction powered by iam-sold Ltd or "iam-sold Ltd".
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*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 Browns, Stockton on Tees on 01642 677411.
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