House For Sale £65,000
DDM PROPERTY AUCTION : For sale by Modern Method of Auction: Starting Bid Price £65,000 plus reservation fee.
The mid terraced property comprises of a ground floor retail shop unit with large amount of storage to the rear and a self-contained one-bedroom flat above with separate access to the rear of the property.
The retail accommodation provides excellent storage facilities and WC. Some modernisation and refurbishment are required. Potential rent on FRI lease of £4,800 per annum.
One bedroom flat currently let on Shorthold Tenancy Agreement at £3,900 per annum. Potential total rent of £8,700 per annum when fully let.
Accommodation
Ground Floor (Retail Unit)
Shop Area Approx – 16.2 sq. m (174 sq. ft)
Storage Area Approx – 12.0 sq. m (130 sq. ft)
Additional Store Area Approx – 8.8 sq. m (95 sq. ft)
Rear Store Area Approx – 12.9 sq. m (139 sq. ft)
WC
First Floor Flat (Separate Access)
Living room, Kitchen, one bedroom and Bathroom.
Rent £325 pcm. £3,900 per annum.
Rateable Value
We are verbally advised by East Lindsey Council that the Rateable Value is £3,600 under the current assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.
This property is for sale by DDM Property Auction powered by iam-sold Ltd.
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 buyer’s solicitor. This additional time allows buyers to proceed with mortgage finance. 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 Arrangements
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.
TO VIEW OR MAKE A BID – Contact DDM Residential on[use Contact Agent Button] or visit:
The mid terraced property comprises of a ground floor retail shop unit with large amount of storage to the rear and a self-contained one-bedroom flat above with separate access to the rear of the property.
The retail accommodation provides excellent storage facilities and WC. Some modernisation and refurbishment are required. Potential rent on FRI lease of £4,800 per annum.
One bedroom flat currently let on Shorthold Tenancy Agreement at £3,900 per annum. Potential total rent of £8,700 per annum when fully let.
Accommodation
Ground Floor (Retail Unit)
Shop Area Approx – 16.2 sq. m (174 sq. ft)
Storage Area Approx – 12.0 sq. m (130 sq. ft)
Additional Store Area Approx – 8.8 sq. m (95 sq. ft)
Rear Store Area Approx – 12.9 sq. m (139 sq. ft)
WC
First Floor Flat (Separate Access)
Living room, Kitchen, one bedroom and Bathroom.
Rent £325 pcm. £3,900 per annum.
Rateable Value
We are verbally advised by East Lindsey Council that the Rateable Value is £3,600 under the current assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.
This property is for sale by DDM Property Auction powered by iam-sold Ltd.
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 buyer’s solicitor. This additional time allows buyers to proceed with mortgage finance. 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 Arrangements
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.
TO VIEW OR MAKE A BID – Contact DDM Residential on[use Contact Agent Button] or visit:
