Flat 1 27 Watcombe Circus, Nottingham, Nottinghamshire, NG5 2DU
- Conditional Online Auction Sale
- Bedrooms: 3
THE GOTO GROUP ARE PLEASED TO OFFER FOR SALE VIA ON LINE AUCTION THIS 3 BEDROOM APARTMENT IN CARRINGTON
Tenure
LEASEHOLD
Description
Three Bedroom Duplex HMO Licenced Property!
Located in the sought after Carrington with easy access to local amenities and city centre, this architecturally attractive property provides spacious accommodation over two floors and an enclosed courtyard offering private outside space.
This property is being sold with freehold for the whole block of three flats and HMO license valid until 2027. Generating an average rental income of £1300-£1500pcm, this property provides a prospect of 7-8.4% yearly yield for potential landlord without taking into account of the benefit of having the freehold ownership of the whole block and the remaining HMO licence period.
It suits professionals who want to buy to occupy and investors alike.
Entering the property from the ground floor, on the left is the spacious living room with a beautiful fireplace, high ceiling and a bay window overlooking the front garden; on the right is another equally attractive and spacious room with a big window overlooking the courtyard garden, currently used as an office but can be used as master bedroom; a long corridor leads to the surprisingly spacious kitchen with dining space.
On the lower ground floor, there are further two spacious bedrooms, one double and the other king size. The recently refurbished bathroom is also on the lower ground floor.
This property has recently been refurbished with new flooring throughout, a new bathroom and recently decorated including fitted blinds.
Watcombe Circus is a quiet neighbourhood with wide roads providing abundant free parking spaces.
Carrington remains very popular for its proximity to the City Centre, its ease of access to public transport including bus and tram routes from nearby Mansfield and Hucknall Road as well as the Tram stops by “The Forest Recreation Ground”. The City Centre is approximately five minutes (or even less) away by vehicle and is walkable by the average person in under thirty minutes.
Property ownership information
Ground rent review period: No review period
Service charge review period: No review period
Service charges: £70 per month
Lease term: 125 years from 1 July 2002
Material information:
The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.
EPC Rating
CURRENT 66/79 POTENTIAL
Opening Bid and Reserve Price
This Property is subject to an undisclosed Reserve Price which in general will not be 10% more than the Opening Bid. The Reserve Price and Opening Bid can be subject to change. The Online Auction terms and conditions apply.
Comments
This property is offered for sale via Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to exchange and complete the transaction from the date the Draft Contract is issued by the sellers solicitor.
By giving a buyer time to exchange contracts on the property, normal residential finance can be arranged. The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative.
The buyer will be required to give the Auctioneer authority to sign the Reservation Form on their behalf and to confirm acceptance of the Terms and Conditions prior to solicitors being instructed. Copies of the Reservation Form and all Terms and Conditions can be found in the Information Pack which can be downloaded from our website or requested from our Auctioneer.
If the vendor accepts an offer, the buyer will be required to make payment of a non-refundable reservation fee of £7,380 including VAT and a legal pack charge of £372 including VAT. This reserves the property for the buyer during the Reservation Period. Any additional fees and charges over and above this will be confirmed within the terms and conditions available on the website.
The Buyer's Premium is in addition to the final selling price and is considered within calculations for Stamp Duty Land Tax.
All buyers will be required to verify their identity and provide proof of how the purchase will be funded.
Buyer's Administration Charge
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay the fee specified above towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
Buyer Fees
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
- You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
- Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.
Energy Performance Certificate (EPCs)
An EPC is broadly like the labels provided with domestic appliances such as refrigerators and washing machines. Its purpose is to record how energy efficient a property is as a building. The certificate will provide a rating of the energy efficiency and carbon emissions of a building from A to G, where A is very efficient, and G is inefficient. The data required to allow the calculation of an EPC includes the age and construction of the building, its insulation and heating method. EPCs are produced using standard methods with standard assumptions about energy usage so that the energy efficiency of one building can easily be compared with another building of the same type. The Energy Performance of Buildings Directive (EPBD) requires that all buildings have an EPC when they are marketed for sale or for let, or when houses are newly built. EPCs are valid for 10 years, or until a newer EPC is prepared. During this period the EPC may be made available to buyers or new tenants.
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