*CASH BUYERS ONLY*
The property features an open plan living room and kitchen, double bedroom, bathroom, and further double bedroom and ensuite.
Situated in Leeds city centre the property is the perfect location for those wanting be close to the city’s restaurants, bars and shops. The M62, M621 and M1 are within a 3 mile radius enabling easy access in and out of the city. The bus and train station are within walking distance. This property is well positioned for easy access into and out of the city centre, as well as the popular residential areas of Leeds Dock and The Calls.
The property has a high spec kitchen with built in appliances including a dishwasher. As well as contemporary bathrooms and floor to ceiling windows.
Both bedrooms comfortably fit double beds. The master bedroom has a built-in wardrobe and an ensuite bathroom with a shower. The second bedroom opens on one side to the open plan living room which provides flexibility should this space be used as a dining room.
Off the entrance hall is a main bathroom compromising a bath/shower and a separate large storage cupboard with plumbing suitable for a washing machine.
The following charges apply:
• Ground Rent - £200.00 PA
• Service Charge - £1,799.88 PA
• Lease Term - 132 years remaining
Potential rental yields based upon starting bid:
• Approximate rental income of £1,000.00 pcm
• Gross yield - 8.5%
• Net yield - 7.1%
Please note that this property cannot be mortgaged currently, as the EWS1 certificate is B2 rated.
The property is currently on the process of applying for government funding for the remediation of Non-ACM cladding.
CURRENT 77/87 POTENTIAL
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.
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 may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. 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.
Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer's Premium of £5,400 including VAT, plus a buyer's administration charge of £354 including VAT, a total of £5,754. This secures the transaction and takes the property off the market. 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 and buyer's administration charge are in addition to the final negotiated selling price.
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £354.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
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.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.