108-109 Leicester Street, Wolverhampton, WV6 0PS

Freehold detached property in Wolverhampton

Guide price*

£250,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Finance available on this property

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Lot 180 Residential Investment
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Auction details:

Wednesday 20th October 2021 @ 09:00AM

Livestreamed Auction

A Freehold Residential Investment Property Current Gross Income: £17,640 pa.

Property Description

A freehold vacant detached property split into four self-contained dwellings containing two one-bedroom and two studio apartments. The property benefits from gas central heating and double glazing. All flats are currently let on Assured Shorthold Tenancy Agreements and produce a rental income of £17,640 per annum.

Location

The property is situated in an established residential area on the doorstep of local amenities and within easy reach of Wolverhampton city centre and universities. Good access offered to the A41, M6 and local rail links.

Accommodation

Ground Floor: Communal entrance, common room
Flat 108 (studio): Entrance hall, living/bedroom area, kitchen, bathroom
Flat 108A (one-bedroom): Entrance hall, reception room, kitchen, bathroom, bedroom
First Floor: Landing
Flat 109 (studio):,/b> Entrance hall, living/bedroom area, kitchen, bathroom
Flat 109A (one-bedroom): Entrance hall, reception room, kitchen, bathroom, bedroom
Outside: Front and rear gardens, Parking to rear

Energy Performance Rating

See legal pack.

Tenure

Freehold – Subject to the existing tenancies.

Tenancy Details

Flat 108 - £375 pcm/£4,500 pa
Flat 108A - £325 pcm/£3,900 pa
Flat 109 - £375 pcm/£4,500 pa
Flat 109A - £395 pcm/£4,740 pa
Total Rental Income: £1,470 per calendar month - £17,640 per annum.

Remote Bidding Auction

This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.

Viewings

External viewings only.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

REMOTE BIDDING AUCTION

Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only.  You must pre-register to bid for each auction no later than 24 hours prior to the auction.  Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for
the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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