1 bed Flat For Sale £140,000
Wickham House, 58 Market Square, Witney, OX28

A split-level apartment in central period building within the town's Conservation Area that is currently let and fully compliant for making it an ideal investment or first-time purchase.
For Sale by Modern Auction & available with no onward chain!

THE PROPERTY:

This property is for sale by Modern Method of Auction powered by iamsold LTD - Starting Bid £140,000 + Reservation Fee.

A unique duplex apartment in a period conversion in the thriving centre of Witney.

The property is approached via a communal stairwell with security phone entrance door. The upper floor of the apartment has a hall with cloakroom off. The light double aspect living room has roof top views and opens into a kitchen area.

Stairs lead down to a lower floor where there is a comfortable double bedroom with understairs storage and an ensuite bathroom.

The ideal combination of sealed unit double glazing and gas fired central heating (rare in apartments) give an impressive 'C' Energy Performance Rating meaning manageable utility bills for occupiers and 'future proofing' this investment for landlords who will soon only be able to let properties that are rated 'C' or above.(Currently legislation allows for rental properties to be 'E' and above).

Although the property does not own a parking space, it is possible to rent one in a secure car park behind the Masonic Center on the opposite side of Church Green for £300 per annum.

The property is let on an Assured Shorthold Tenancy of 12 months from 21 August 2023 (with a 6 month break clause) producing £10,500 per annum. Gross yield of 6.77% based on purchase price of £155,000.

Tenure: The property benefits from the remainder of 125 Years (Less 10 Days) granted 25 December 1983 (85 years remaining). Ground rent £150 per annum and a monthly service charge of £171.39 is payable.
Local Authority: West Oxfordshire District Council (Tax band B)

Auctioneer Comments: This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangement

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended 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 the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

The photographs and video tour in this listing are taken from our archive and show the property before the current tenancy.

SITUATION:

Situated at the very heart of the town between the iconic Buttercross and the beautiful treelined expanse of Church Green in a conservation area, this apartment is within easy walking distance to a number of eateries, pool and gym, major supermarkets as well as a hub of excellent public transport around the town and to both Oxford and London. Mainline service from nearby Hanborough (c. 6.2 miles).