36 Fountain Road, Edgbaston, Birmingham, B17 8NR
Semi detached house split into 3 self-contained flats in Edgbaston
Sold for £290,000
Please note completion for this property will be 6 weeks from exchange and not the usual 28 days - 26.02.20 @15.33
A FREEHOLD SEMI DETACHED INVESTMENT PROPERTY CONVERTED INTO THREE SELF-CONTAINED FLATS CURRENT GROSS INCOME: £18,540 PA
Property DescriptionA substantial semi detached property standing back from the road behind a driveway, which has been converted into three self-contained flats.
AccommodationGround Floor: Communal Entrance and Hall.
Flat 1:- Living/Dining Room, Kitchen, Bathroom with Shower/WC and Two Bedrooms.
First Floor: Communal Landing.
Flat 2:- Hall, Living/Dining Room, Kitchen, Two Bedrooms, Bathroom with Shower/WC.
Flat 3:- Landing, Reception Room, Kitchen, Bedroom, Bathroom/WC.
Outside: Driveway Parking, enclosed Bin Store, Communal Gardens.
The property benefits from having a gas fired central heating system.
Energy Performance RatingD, C, D
TenureFreehold – Subject to the existing tenancies.
Tenancy DetailsFlat 1:- Let on an Assured Shorthold Tenancy at a rental figure of £550 per calendar month - £6,600 per annum.
Flat 2:- Let on an Assured Shorthold Tenancy at a rental figure of £500 per calendar month - £6,000 per annum.
Flat 3:- Let on an Assured Shorthold Tenancy at a rental figure of £495 per calendar month - £5,940 per annum.
Total Current Gross Income: £18,540 per annum
Potential Gross Income: £22,700 per annum (subject to rent review)
Auctioneers Note1. Please note that we have not had sight of the tenancy agreements at the time of going to print.
2. Please note offers may be considered prior to the Auction Sale.
ViewingsStrictly by appointment with the Auctioneers.
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.
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day 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 £1,920 inc VAT (£1,600.00 + 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.