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Residential properties for auction in Gamlingay, Bedfordshire

Create Alert 2 results Sorry, we currently do not have any listings in 0 miles of Gamlingay, Bedfordshire - Please find below the nearest listings available.
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** UNSOLD - AVAILABLE AT £40,000 **

A modern detached block arranged as eight purpose built flats. Ground Rent Investment let at £2,000 per annum.

By Order of the Administrators

Tenure
Freehold.

Location
Cambridge is a historic and beautiful city located about 60 miles from London, home to one of the world’s most prestigious universities and an important regional technology centre
Impington village is situated about 4 miles north of the city
Merrington Place runs northwards off Impington Lane
Local shops are nearby, whilst the retail and commercial centre of Cambridge is within easy reach
Access to the A14, A10 and M11 provides links to the A11, A1, Stansted Airport and M25
Cambridge North

Description
A modern detached three storey block arranged as eight purpose built flats

Accommodation and Tenancies
Eight flats, each sold on a 125 year lease from 1st November 2010 at a ground rent of £250, doubling every 25 years of the term
Rights of first refusal do not apply
Total Current Ground Rent £2,000 per annum

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15-29, Merrington Place, Cambridge, CB24 9AL
A modern detached block arranged as eight purpose built flats
Type: Flat, Residential
Location: 15-29 Merrington Place, Cambridge, CB24 9AL
Images: 1
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
Images: 1
Brochures: 1
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