Town centre flat offering excellent rental potential
*UNSOLD, PLEASE REFER TO AUCTIONEER*
This is a first floor flat in a modern purpose built block in the centre of Shepton Mallet. At approximately 48 sqm/517sqft this is a spacious 1 bedroom flat with lounge, separate kitchen, utility room and bathroom. Subject to some minor internal alterations there is potential for a second bedroom, subject to the necessary consents. Based on the current configuration we are advised by Stuarts Residential that the property should let for circa £415-£425 pcm representing a gross yield of 10%.
• 48 sqm/517 sq ft 1 bed first floor flat • Situated in a modern block • Town Centre setting close to local amenities • Ready to let at circa £425 PCM • Could reconfigure to a 2 bed subject to consents • Council Tax Band A • Potential high yielding investment
To be announced
Search Pack Fee
£360 payable upon the fall of the gavel/exchange of contracts.
Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
A full auction legal pack can be downloaded from www.auctionhousebristol.co.uk once available. For further information on the other lots in this auction please visit the website.
Do you need finance?
In most cases there is a lender for nearly every property. We work with several independent brokers and lenders who are specialists in funding properties that are sold at auction. Let us have your details and we will put you in touch with the right people.
Need to get the auction pack reviewed?
AH Legals work with a number of solicitors who will review the legal pack for you. Get in touch to find our more.
Energy Efficiency Rating (EPC)
Current Rating E
Mendip District Council
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £720 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Flat 3, St. Peters Terrace, Shepton Mallet, BA4 5BH
Town centre flat offering excellent rental potential
Type: Residential, Flat
Flat 3 St. Peters Terrace, Shepton Mallet, BA4 5BHGBShepton MalletSomersetBA4 5BHFlat 3, St. Peters Terrace
*THIS PROPERTY IS AVAILABLE AT £700,000 - PLEASE CONTACT THE AUCTIONEER FOR MORE DETAILS*
• Comprising a Total of 4 x Self-Contained Two Bedroom Flats and 4 x Self-Contained Two Bedroom Maisonettes within Two Buildings • Each Flat subject to an Assured Shorthold Tenancy • Set within the Gardens of Pondsmead Nursing Home • Allocated Parking • Visitor Parking • Total Current Gross Rent Reserved £56,220 per annum (equivalent) from Eight Flats
ON THE INSTRUCTIONS OF ALLSOP LLP ACTING AS JOINT FIXED CHARGE RECEIVERS
Tenure Long Leasehold. The property is held on a lease for a term of 999 years from 25th November 1998 (thus having approximately 979 years unexpired) at a peppercorn ground rent.
Location The property is located within the grounds of the Pondsmead Nursing Home, to the west of Bath Road. Local amenities are available close by, with the more extensive facilities of Bath city centre being accessible to the north. Bath Spa Rail Station is approximately 14 miles to the north-east. The nearby A37 provides access to the A39 and, in turn, the A46 and M4 Motorway. Oakhill Recreation Ground, Oakhill Surgery and All Saint’s Church are close by.
Description The property comprises two detached buildings internally arranged to provide a total of four self-contained two bedroom flats and four self-contained two bedroom maisonettes. The property benefits from allocated parking and visitor parking spaces.
Addendum for Lot Number 245 Radstock, Land on the west side of Pondsmead Nursing Home, known as The Cedars' and The Elms', Bath Road, Oakhill, Somerset, BA3 5HT There are REVISED Special Conditions of Sale dated 5th February 2018 applicable to this Lot.
Bidders for Lot 245 should be aware of a dispute with an adjoining owner who has obtained a Court Order which is noted against the Title to the property by a Unilateral Notice. Correspondence relating to the dispute and copies of Court documents have been provided at item 2 in the auction legal pack.
The property is located in the county of Somerset and not as stated.
The local authority search and water and drainage search results have not been received prior to the auction and are not in the auction pack. The vendor has therefore put in place search delay insurance and a copy of the cover note is available for inspection
The property details incorrectly state that the tenant of 1 The Elms has served notice. It is the tenant of 1 The Cedars who has given notice.
The rents stated in the tenancy schedule are the revised rents and contrary to the rent stated in the tenancy agreements in the legal pack'
Land on the West side of Pondsmead Nursing Home, known as 'The Cedars' and 'The Elms' Bath Road, Radstock, BA3 5AFGBRadstockSomersetBA3 5AFLand on the West side of Pondsmead Nursing Home, known as 'The Cedars' and 'The Elms', Bath Road