A freehold block of 12, purpose built apartments (9 x 1 bed, 3 x 2 bed). Built in 2014 and requiring significant remedial works, close to Exeter University and St Davids Station. Development potential, vacant

Description/Location

Planning was granted by Exeter City Council on 21/06/2012 ref no. 12/0354/FUL, the property was intended to house 15 students in 12 flats. After completion, building faults led to significant water ingress. The property could not be occupied and has remained vacant. Each flat has its own shower room with laundry facilities, gas boiler, kitchen, intercom and is separately metered for utilities. Based on current market rents for student accommodation in the area we estimate a rental value of circa £120,000 pa on the completion of works. AUCTIONEERS NOTE: The plan edged in red is for illustration purposes only. There will be a Land Registry compliant plan in the auction legal pack.

Tenure

Freehold
EPC ratings - Flats 2,3 and 4 are C rated Flats 1, 5 -12 inclusive are B rated

Local Authority

Exeter City Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Rent

Estimated rental value £120,000

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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.