Three storey investment property in popular area arranged as three apartments with a large rear yard accessed via a private access from Railway Street.
The property itself is in reasonable order but would benefit from decorative improvement throughout. The building itself is arranged as 2 x two bedroom apartments and 1 x one bedroom apartments, there is also a full height basement with direct access to the rear yard.
We are informed that the current rental income is £2250pcm (£27,000pa) however there is room for rental improvement here in our opinion subject to some improvement works. In any case this rental income represents an Initial gross yield of 12% at this level but please examine the legal pack when available for confirmation and detail of all tenancy agreements.
To the rear of the building is a large rear yard which couple have further development potential subject to any necessary consents and benefits from a secure private lane access from Railway street.
N.B. Further internal photos and details will be added in the coming days.
LGF - Full height basement.
GF -Communal hall. Hall, Kitchen/living area, two bedrooms, shower room
FF - Hall, Kitchen/living area, one bedroom, shower room
SF - Hall, Kitchen/living area, two bedrooms, shower room
OS - Large rear yard with private access lane.
Informed Freehold – please refer to legal pack for verification of tenure
Viewing by appointment with Seel and Co – www.seelandco.com/auctions
Buyer's Premium - 1.20% with a minimum of £1,200 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid by the purchaser on completion.
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Auctioneers Office, Seel and Co (029) 2037 0117
FOR SALE BY PUBLIC AUCTION on Tuesday, 29 April 2025 online via the Seel and Co website. Bidding will commence from midday on Monday, 10 April and conclude in order from Lot 1 at 4:00 pm on Tuesday, 29 April 2025
We've partnered with Cornerstone Commercial Finance to offer a wide range of finance options from bridging loans to development finance.
Apply for Finance* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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