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Studio Flat For Sale £450,000
Marshalls Road, Raunds, Wellingborough NN9


Description
Investment opportunity to purchase the freehold of this block including five one bedroom flats. The development consists of thirteen units in total with ten currently having leases of 68 years. This provides the freeholder the opportunity to grant lease extensions. The current ground rent per unit is £50.00 per annum with the exception of one which is £100.00 per annum. Each leaseholder pays a service charge of £1,020.00 per year and most of the services are outsourced. The five one bedroom flats are approximately 500 sq.ft. (46 sq.m) and we currently let at a net figure £334.00 per month, providing scope for an income

Outside Each property comes with its own allocated parking.

N.B. We understand the following Service Charges totalling £13,260.00 apply from 1 April 2019 to March 2020 which is divided by per property £1,020.00 per annum and paid monthly.
Insurances
Buildings Insurance - £1,575.00
Engineering Insurance - £460.00
Utilities
Communal Electricity - £530.00
Gate Entry System (O2) - £180.00
Repairs/Maintenance
Repairs & Maintenance - £1,860.00
Gate Service Contract - £300.00
Health & Safety
Emergency Light Testing - £100.00
Professional Fees
Accountancy Fees - £620,00
Managing Agents Fees - £2,745.00
Cleaning
Communal Cleaning - £360.00
Gutter Clearance - £130.00
Gardening
Ground Maintenance - £1,400.00
Emergency
Out of Hours - £80.00
Administration
Bank Charges - £220.00
Reserves & Contingencies
Contingency Fund - £2,700.00

agents note
Please be aware that some photographs used in our particulars are obtained using a wide-angle lens. For offers to be submitted in the best light, the majority of vendors require us to confirm buyers have been financially qualified. We will require a Mortgage Certificate or Agreement In Principle (A.I.P.) and proof of deposit or cash. This information will be treated confidentially and will not be seen by any other party.

Money laundering regulations 2017 & proceeds of crime act 2002
In order to comply with the above Regulations, an intending purchaser will be required to provide official I.D; proof of address, evidence of funding and source of deposit clearly showing the name of the account holder. If funds are being provided by a third party i.e. Family, we will require the same from them too. We may officially verify these documents.
Disclaimer

The information given in these particulars is intended to help you decide whether you wish to view this property and to avoid wasting your time in viewing unsuitable properties. We have tried to make sure that these particulars are accurate, but to a large extent we have to rely on what the seller tells us about the property. We do not check every single piece of information ourselves as the cost of doing so would be prohibitive and we do not wish to unnecessarily add to the cost of moving house. Once you find the property you want to buy, you will need to carry out more investigations into the property than it is practical or reasonable for an estate agent to do when preparing sales particulars. For example, we have not carried out any kind of survey of the property to look for structural defects and would advise any homebuyer to obtain a surveyors report before exchanging contracts. If you do not have your own surveyor, we would be pleased to recommend one. We have not checked whether any equipment in the property (such as central heating) is in working order and would advise homebuyers to check this. You should also instruct a solicitor to investigate all legal matters relating to the property (e.g. Title, planning permission etc) as these are specialist matters in which estate agents are not qualified. Your solicitor will also agree with the seller what items (e.g. Carpets, curtains etc) will be included in the sale.

Follow the link for more information:
        
zoopla.co.uk

  
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