* Leasehold
* Traditional Auction!
* Sitting Tenant!
* No Upwards Chain!
* Close to Local Amenities!
* High Potential Yield!
* Allocated Parking Space
* One Bedroom Basement Level Flat!
* Brand New Leasehold!
* Long Lease Term!
* A real must view!
_** For Sale by Auction – T & c’s apply __** ** Current Occupied at £350 pcm!
**_
Belvoir are pleased to present this fantastic investment opportunity with
potential yields in excess of 9%!
If you're looking for a quick investment with plenty of room for growth and
refurbishment, then this might be the one for you. Avenue Road is currently
occupied by a long - term tenant and could achieve up to £550 pcm with a little
bit of modernisation.
In brief, the property comprises of a kitchen, living room, bedroom and shower
room. Externally is the added benefit of allocated parking and a private
courtyard with additional lockable storage.
The property is located between Compton and Chapel Ash and is within easy
reach of Wolverhampton Town Centre. This means a steady flow of tenants or a
long term tenant given the myriad of amenities nearby.
Leasehold:
125 Lease Years Remaining
Ground Rent: Peppercorn
Service Charge: £695. 00 P/A
Tenancy:
Currently £395 pcm
Potential £550 pcm
Tenancy Start Date: November 2013
_Auctioneer Comments_
This property is for sale by the Modern Method of Auction. Should you view,
offer or bid on the property, your information will be shared with the
Auctioneer, iamsold Limited.
This method of auction requires both parties to complete the transaction
within 28 days of the draft contract for sale being received by the buyers
solicitor. This additional time allows buyers to proceed with mortgage finance
(subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a
non - refundable Reservation Fee. This being 4. 2% of the purchase price
including VAT, subject to a minimum of £6, 000. 00 including VAT. The
Reservation Fee is paid in addition to purchase price and will be considered
as part of the chargeable consideration for the property in the calculation
for stamp duty liability. Buyers will be required to go through an
identification verification process with iamsold and provide proof of how the
purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents
in relation to the property. The documents may not tell you everything you
need to know about the property, so you are required to complete your own due
diligence before bidding. A sample copy of the Reservation Agreement and terms
and conditions are also contained within this pack. The buyer will also make
payment of £300 including VAT towards the preparation cost of the pack, where
it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve
Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties
to you. Whilst these services are recommended as it is believed they will be
of benefit; you are under no obligation to use any of these services and you
should always consider your options before services are accepted. Where
services are accepted the Auctioneer or Partner Agent may receive payment for
the recommendation and you will be informed of any referral arrangement and
payment prior to any services being taken by you.
EPC rating: F. Council tax band: A, Tenure: Leasehold, Annual service charge:
£695, Length of lease (remaining): 124 years 9 months
**Kitchen (9. 00ft x 7. 00ft (2. 7m x 2. 1m))**
With a range of wall and base units, a double glazed window to front, a sink
bowl and drainer and space for relevant appliances.
**Living Room (13. 00ft x 13. 00ft (4m x 4m))**
A spacious reception room with a double glazed window to front and access to
kitchen, bedroom and shower room.
**Bedroom (6. 00ft x 12. 00ft (1. 8m x 3. 7m))**
A well sized 'L - shaped' bedroom.
**Shower Room**
With a low level flush WC, hand sink basin and a corner shower cubicle.

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