3 bed Flat For Sale £275,000
For sale by online auction on Tuesday, 31 Jan 2023 ending at 13:00
Bidding opens Monday 30th January 2023 at 13:00 and closes Tuesday 31st January 2023 at 13:00.
Bidding opens Monday 30th January 2023 at 13:00 and closes Tuesday 31st January 2023 at 13:00.Part Let 2 x Apartments in Sought After LocationAn opportunity to acquire a freehold mid terraced bay fronted property, within this sought after location with attractive open outlook to the front over the city of Cardiff. The building is currently split in to 2 x apartments (1 x 2 bedroom ground floor apartment which is currently let and a 1 bedroom first floor apartment which in our opinion could be reconfigured to provide two bedrooms. We are advised that the ground floor apartment is currently let considerably less than the market rent at £400 per calendar month which is up to date, however, with no tenancy agreement being available. The first floor apartment is currently vacant and in our opinion the value of the apartment benefiting from a split in the title and refurbished would be in the region of £250,000. The property converted back to a house and refurbished would stand at approximately £550,000.00 in our opinion and market rent for each apartment laid out with two bedrooms would be circa £1000 p/c/m in good order.
The property is located in a superb position at the top end of the town within easy walking distance of the centre which benefits from a selection of bars, restaurants and boutiques. The town has a Victorian promenade and pier, a number of parks, marina and excellent schools, whilst also providing great access for Cardiff Bay via the barrage and Cardiff City Centre. Good access is also offered to the A4232/A48 and M4.
Communal Entrance and HallwayGround Floor Inner Hall, two bedrooms, lounge, kitchen, bathroom, lean to utility room.First Floor Landing, large lounge, kitchen, bedroom, bathroom.Tenancies Ground floor currently let on a verbal agreement at £400 per calendar month, therefore the current income stands at £4800.00 per annum. The property also provides an opportunity to increase the income through letting of the
EPC Rating
Ground Floor Flat - D
First Floor Flat - C
Additional Fees
Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Bidding opens Monday 30th January 2023 at 13:00 and closes Tuesday 31st January 2023 at 13:00.
Bidding opens Monday 30th January 2023 at 13:00 and closes Tuesday 31st January 2023 at 13:00.Part Let 2 x Apartments in Sought After LocationAn opportunity to acquire a freehold mid terraced bay fronted property, within this sought after location with attractive open outlook to the front over the city of Cardiff. The building is currently split in to 2 x apartments (1 x 2 bedroom ground floor apartment which is currently let and a 1 bedroom first floor apartment which in our opinion could be reconfigured to provide two bedrooms. We are advised that the ground floor apartment is currently let considerably less than the market rent at £400 per calendar month which is up to date, however, with no tenancy agreement being available. The first floor apartment is currently vacant and in our opinion the value of the apartment benefiting from a split in the title and refurbished would be in the region of £250,000. The property converted back to a house and refurbished would stand at approximately £550,000.00 in our opinion and market rent for each apartment laid out with two bedrooms would be circa £1000 p/c/m in good order.
The property is located in a superb position at the top end of the town within easy walking distance of the centre which benefits from a selection of bars, restaurants and boutiques. The town has a Victorian promenade and pier, a number of parks, marina and excellent schools, whilst also providing great access for Cardiff Bay via the barrage and Cardiff City Centre. Good access is also offered to the A4232/A48 and M4.
Communal Entrance and HallwayGround Floor Inner Hall, two bedrooms, lounge, kitchen, bathroom, lean to utility room.First Floor Landing, large lounge, kitchen, bedroom, bathroom.Tenancies Ground floor currently let on a verbal agreement at £400 per calendar month, therefore the current income stands at £4800.00 per annum. The property also provides an opportunity to increase the income through letting of the
EPC Rating
Ground Floor Flat - D
First Floor Flat - C
Additional Fees
Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
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