Sold after auction for an undisclosed amount

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A 3 storey freehold building comprising 4 flats (3 x 1 bed, 1 x studio). The property is well presented and ready for occupation, vacant.

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Description/Location

The property is available with vacant possession but was recently let, with the 1 bedroom flats producing a rent of £350 a month each and £300 a month for the studio, equivalent to £16,200 p.a. LHA rates are £16,842 pa based on 1 bed £86.30 pw and studio £65 pw.

Tenure

Freehold

Local Authority

Hartlepool Borough Council

Office Contact

Please contact Elliott Network Auctions on 020 7871 0420

Accommodation

Floor areas from EPC. FLAT 1: GF, 16 sqm, EPC E. Flat 2: GF, 42 sqm, EPC D. Flat 3: FF, 42 sqm, EPC D. Flat 4: 2F, 35 sqm, EPC E. Outside: Small front garden, rear yard.

Rent

Estimated Rental Value £16,200 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.