House For Sale £100,000
Being offered as a combined lot and being sold by Modern Method of auction are 5 East Park Road and 30 Melrose Street, which effectively forms a corner end terraced having been converted into two separate self contained flats with separate address and titles. Our instructions are that the property is to be sold with currents tenants in situ and to include the freehold title arrangement.
The flats are arranged as 5 East Park Road, a two bedroom flat with its own entrance, occupying the first and second floors. Currently rented on an assured short hold tenancy for £495 per calendar month.
30 Melrose Street, a studio bedsit with own entrance, occupying the ground floor (and access to basement). Currently rented on an assured short hold tenancy for £350 per calendar month.
The rental incomes therefore producing a current gross annual income of £10140 based on 100% occupancy.
Ideally placed on the outskirts of Halifax Town Centre the properties are well placed for a range of amenities and transport links.
We would recommend an early enquire, from genuinely interested investor purchasers only.
Brief summary of accommodation:-
30 Melrose Street - Ground floor entrance, into a small lobby area. Open plan living, kitchen and bedroom area. Separate shower room. Access to a basement cellar.
5 East Park Road - Ground floor entrance in a private lobby, staircase leads to a first floor living area, with open plan kitchen space and single bedroom off. Further staircase to a second floor landing, double bedroom and separate bathroom.
Agnets note: Being offered for sale as a combined lot with tenants in situ. Freehold title ownership included if purchased together. (please ask for further details or refer to the auction pack). Energy certificates are available upon request. The properties are held on separate titles, so this would mean a legal transaction for both - legal costs may therefore be higher. The internal photos are from when the properties were vacant, prior to being rented out. They date to December 2020 (Melrose Street) and September 2021 (East Park Road). Please contact JI Estates for internal photos.
The sale of this property is by the way of Modern Method of Auction. Starting bids from £100,000 (plus reservation fee) subject to a undisclosed reserve price. Any party interested, when submitting an bid/offer will be referred to Advanced Property Auctions to discuss that matter as well as the full terms and conditions of the sale. Upon acceptance of any bid/offer a reservation fee of 3% plus VAT of the agreed sale price (minimum of £5000 Plus VAT) will be payable to secure the sale. The buyer then has a maximum of 56 days to complete the sale.
Covid-19 protocol - In line with the government guidance, in order to view this property you must firstly familiarise yourself with the video walk around/tour. We can send a link to you if you wish. If you are in a strong buying position, I.E, if interested, you could proceed immediately and you have the appropriate finances in place to purchase a physical viewing appointment can be arranged. If you are unable to proceed then a viewing at this time is not possible. Any viewing will follow the stringent social distancing measures currently in place. Face masks for viewing would be required.
Refferal arrangements - As agents we may recommend or refer the services of third parties to you. Whilst these services are suggested 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 JI Estates may receive payment for the recommendation as follows
1) Conveyancing Solicitor - £100 (inc vat)
2) Financial advisor - 15-20% of the Procuration fee earned
3) Letting Agent - an amount equal to 10% plus vat of the first months rent
4) Surveying firm £50 (inc vat)
The flats are arranged as 5 East Park Road, a two bedroom flat with its own entrance, occupying the first and second floors. Currently rented on an assured short hold tenancy for £495 per calendar month.
30 Melrose Street, a studio bedsit with own entrance, occupying the ground floor (and access to basement). Currently rented on an assured short hold tenancy for £350 per calendar month.
The rental incomes therefore producing a current gross annual income of £10140 based on 100% occupancy.
Ideally placed on the outskirts of Halifax Town Centre the properties are well placed for a range of amenities and transport links.
We would recommend an early enquire, from genuinely interested investor purchasers only.
Brief summary of accommodation:-
30 Melrose Street - Ground floor entrance, into a small lobby area. Open plan living, kitchen and bedroom area. Separate shower room. Access to a basement cellar.
5 East Park Road - Ground floor entrance in a private lobby, staircase leads to a first floor living area, with open plan kitchen space and single bedroom off. Further staircase to a second floor landing, double bedroom and separate bathroom.
Agnets note: Being offered for sale as a combined lot with tenants in situ. Freehold title ownership included if purchased together. (please ask for further details or refer to the auction pack). Energy certificates are available upon request. The properties are held on separate titles, so this would mean a legal transaction for both - legal costs may therefore be higher. The internal photos are from when the properties were vacant, prior to being rented out. They date to December 2020 (Melrose Street) and September 2021 (East Park Road). Please contact JI Estates for internal photos.
The sale of this property is by the way of Modern Method of Auction. Starting bids from £100,000 (plus reservation fee) subject to a undisclosed reserve price. Any party interested, when submitting an bid/offer will be referred to Advanced Property Auctions to discuss that matter as well as the full terms and conditions of the sale. Upon acceptance of any bid/offer a reservation fee of 3% plus VAT of the agreed sale price (minimum of £5000 Plus VAT) will be payable to secure the sale. The buyer then has a maximum of 56 days to complete the sale.
Covid-19 protocol - In line with the government guidance, in order to view this property you must firstly familiarise yourself with the video walk around/tour. We can send a link to you if you wish. If you are in a strong buying position, I.E, if interested, you could proceed immediately and you have the appropriate finances in place to purchase a physical viewing appointment can be arranged. If you are unable to proceed then a viewing at this time is not possible. Any viewing will follow the stringent social distancing measures currently in place. Face masks for viewing would be required.
Refferal arrangements - As agents we may recommend or refer the services of third parties to you. Whilst these services are suggested 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 JI Estates may receive payment for the recommendation as follows
1) Conveyancing Solicitor - £100 (inc vat)
2) Financial advisor - 15-20% of the Procuration fee earned
3) Letting Agent - an amount equal to 10% plus vat of the first months rent
4) Surveying firm £50 (inc vat)
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