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Residential properties for auction in Cambridgeshire

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LOCATION
Summary: The property fronts Canal Street in the town centre
Miles: King's Lynn 13.9 miles, Peterborough 22 miles
Roads: A1101, B198, A47
Buses: Wisbech (Horsefair Shopping Centre)
Nearby Occupiers: Coral, Costa Coffee, Poundland, Holland & Barrett

DESCRIPTION
An end of terrace Grade II Listed property arranged as a ground floor café/restaurant and a recently refurbished split level two bedroom self contained flat above. The property is located near the city centre and trades as The Bygones Café and the flat is accessed from the side of the building. We have been informed that the vendor extensively refurbished the flat about 1 year ago and has served a rent review notice on the commercial element at a rent of £12,600 per annum (refer to the legal pack).

TENURE
Freehold

PLANNING
Fenland District Council (01354 654321) www.fenland.gov.uk

VAT
Refer to the legal documentation

ENERGY PERFORMANCE CERTIFICATE
See website

Floor Use SQ M SQ FT Tenant Lease Terms Rent £ PA
TOTAL £21,600
Ground, part first, part second Part first, part second Café/restaurant Residential (3) Kitchen 57.60 Store 11.10 620 120 T/A Bygones Café (1) Individual 6 years from 05/2014 (1) AST from 06/2017 £9,600 (2) £12,000(1) We have been informed that the tenant has been in occupation for 18 years.
(2) Rent review notice served at £12,600 per annum
(3) We have been informed that the flat was refurbished last year.
All measurements have been provided by the vendor

JOINT AUCTIONEERS
Quest Property Consultants Ltd

SELLER'S SOLICITOR
Leonard Gray LLP
John Appleby
01245 504904
jappleby@leonardgray.co.uk
4-6, Little Church Street, Wisbech, PE13 1BG
An end of terrace Grade II Listed property arranged as a ground floor café/restaurant and a recently refurbished split level two b...
Type: Flat, General Retail, Mixed Use, Residential, Retail, Other Property Types & Opportunities
Location: 4-6 Little Church Street, Wisbech, PE13 1BG
Images: 7
Brochures: 1
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*UNSOLD, PLEASE REFER TO AUCTIONEER*

This town centre townhouse has been converted into two 2 bedroom flats and is currently let on ASTs with a total income of £12,600 pa, the ground floor flat at £500 pcm and the first floor flat at £550 pcm.

The property is located very within the town of Wisbech, and offers a garden to the rear of the ground floor flat.

Wisbech is an old port town which provides shopping and recreational facilities. It is situated north of Huntingdon with the A47 providing acccess into Kings Lynn and Peterborough.

Tenure
Freehold

Accommodation
Ground Floor Flat
Living room, dining area, kitchen, bathroom, two bedrooms

First Floor Flat
Lower level - Lounge, kitchen
Upper level - Two bedrooms, shower room

Outside
Small garden area to the rear of the ground floor flat.

Viewing
Open days

Energy Efficiency Rating (EPC)
Current Rating E

Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority
Fenland District Council. Tel: 01354 654321

Solicitors
Butcher Andrews, Old Post Office Street, Fakenham, Norfolk NR21 9BL, Ref: Mel Eggington, Tel: 01328 863131

Additional Fees

Administration Charge - 0.3% including VAT subject to a minimum of £840.00 including VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
34, Alexandra Road, Wisbech, PE13 1HQ
2 x 2 bedroom town centre flats with a current income £12,600 per annum
Type: House, Flat, Residential
Location: 34 Alexandra Road, Wisbech, PE13 1HQ
Images: 7
Brochures: 1
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*THIS PROPERTY IS STILL AVAILABLE - PLEASE CONTACT THE AUCTIONEER FOR MORE DETAILS*

Features

End terraced property
Three bedrooms
Ideal investment opportunity
Tenanted
Good rental location
Current rent of 650 pcm ( £7,800 pa )
Currently under rented – market rent approx. £800 pcm
Close to amenities

Location
The property is situated on Elm Close, set within a cul-de-sac amongst other similar properties. There are many local amenities nearby such as, cost cutter, St Johns primary school and the Acorn Surgery all within walking distances of the property.
Huntington town is 1.4 miles from the property and approximately 10 minutes’ drive. The market town has chequers court shopping centre, café’s, banks and good local bus services, making it accessible for commuters. Cambridge is 22 miles south east and London is 77 miles south of the property.
Good road links are provided via the A14, A1 and M11.

Description
The property is a 1960’s three-bedroom end of terrace, made of traditional brick construction with a pitched tiled roof. We understand the property has a lounge, kitchen, bathroom and three bedrooms. To the front of the property there is a fenced front garden. It is set back from the road within a cul-de-sac location and offers on street parking.
Please note we have not undertook an inspection of this property.

Investment Analysis
The property is currently let for £650 pcm (£7,800 pa) providing a yield of 5% based on the guide price. There is potential to achieve £800 pcm on a rent increase or if re-let.
The property can also have potential to achieve a higher income and be converted into a HMO subject to planning and licensing.

Accommodation
74 Sq. M (796 Sq. Ft) taken from the VOA

Services
We understand the property to have mains gas, electricity, water and drainage however all parties should make their own enquiries.

Tenure
Please refer to the legal pack for this lot.

Guide Price
£150,000 – £160,000+

Buyer’s Premium
2.4% (min. £3,000) inc. VAT

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50, Elm Close, Huntingdon, PE29 7AS
Income Producing Investment – Currently Under Rented Three Bedroom End Terrace Property
Type: House, Residential
Location: 50 Elm Close, PE29 7AS
Size: 74 Sq M
Images: 1
Brochures: 1
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