Sold for £328,000

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Freehold residential investment comprising 4 x 1 bedroom flats with parking to the rear, let on AST's producing £21,060 pa.

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Description/Location

This 2 storey property is situated close to the varied facilities of Newquay town centre and just a short walk from Fistral Beach with its world famous surfing facilities. Rick Stein, Fistral and the five star Headland Hotel are nearby. The building has been well maintained and comprises 4 x 1 bedroom flats which are currently let on AST's, there is good potential to increase the rental income through short term holiday lets. The car park is accessed via a service road to the rear. Planning consent for conversion to 4 x 1 bedroom flats was granted by Cornwall Council Ref: C2/02/00768 on 29/06/2002.

Tenure

Freehold

Local Authority

Cornwall Council 0300 1234 100

Viewing

Please contact Elliott Network Auctions on 020 7871 0420

Accommodation

Flat 1 GF. Living room and open plan kitchen, bedroom, shower room. Let for 6 months from 21/11/2017 (periodic) at £475 pcm. Flat 2 GF. Living room and open plan kitchen, bedroom, shower room. Let for 6 months from 10/04/18 (periodic). Rent £425 pcm. Flat 3 FF. Living room and open plan kitchen, bedroom, shower room. Let for 12 months from 01/08/2019 (periodic) at £425 pcm. Flat 4 FF. Living room and open plan kitchen, bedroom, shower room. Let for 6 months from 20/04/2018 (periodic) at £430 pcm.

Rent

£21,060 p.a.

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. 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.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.