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8 Collingwood Court, Washington, Tyne And Wear, NE37 3EB

  • Unconditional Online Sale
  • Bedrooms: 1
  • Bathrooms: 1
  • Reception Rooms: 1

BTL Investors – Sitting Tenant, £250 PCM, £3,000 per Annum, 60.00% Gross Yield.

Description

BTL Investors – Sitting Tenant, £250 PCM, £3,000 per Annum, 60.00% Gross Yield.

A ready-made one-bedroom BTL Investment sold with a sitting tenant currently paying £250 PCM, equivalent to £3,000 per annum.

Based on the advertised BUY IT NOW PRICE, the property is producing a gross yield of 60.00%, making the rental return the key attraction for investors seeking income producing stock.

The flat comprises lounge with balcony, fitted kitchen, bedroom with built in wardrobes and bathroom WC. Positioned within a purpose-built development with access into Washington town centre, A1 and A19.

BUY IT NOW PRICE of £5,000 + £5,700 Inc VAT Auction Fees.

Tenanted – Income producing from Day One.

Offered For Sale via Option A – Unconditional Online Auction Terms.

Buyer's Premium £750 + VAT (£900 Inc VAT).

EPC rating C.

For more information, please contact Moovd directly.

Lobby -

Hall -

Lounge - 5.13m x 3.11m (16'9" x 10'2") -

Balcony - 3.12m x 1.36m (10'2" x 4'5") -

Kitchen - 2.60m x 2.30m (8'6" x 7'6") -

Bedroom - 3.44m x 2.87m (11'3" x 9'4") -

Bathroom -

IMPORTANT INFORMATION FOR BUYERS

Moovd Online Property Auctions work in partnership with letting/ estate agents and act as the Auctioneer throughout the sale process. Buyers should establish which auction method applies to the particular lot before making an offer or placing a bid.

OPTION A - UNCONDITIONAL ONLINE AUCTION (Traditional Auction)

Where a lot is offered by Option A - Unconditional Online Auction, the fall of the electronic gavel creates a legally binding contract between the seller and the successful buyer, subject to the applicable auction terms, Legal Pack and Special Conditions of Sale. The successful buyer is legally committed to the purchase and must complete within the period stated in the legal documentation. This is commonly 20 business days, but buyers must rely on the period specified for the individual lot.

The successful buyer will also be required to pay any reservation deposit, buyer's administration fee or other sums stated in the auction terms, property particulars, Legal Pack or Special Conditions of Sale. Buyers should have finance and professional advice in place before bidding. A failure to obtain finance after becoming legally bound will not, of itself, release a buyer from the contract.

For Moovd Unconditional Auction lots, the buyer is required to pay a non-refundable Administration Fee of £3,000 including VAT (£2,500 + VAT) and a Reservation Deposit of 10% of the purchase price, subject to a minimum of £5,000 or whatever is greater, or where those sums are stated as applicable to the lot.

Any additional seller charges or other fees will be identified in the Legal Pack and/or Special Conditions of Sale.

Buyers are deemed to bid in full knowledge of the above. Buyers must take their own advice on the tax treatment of fees, including SDLT.

Council Tax Band

A

Lease Start Date

20/05/1988

Lease Duration

125 years (86 years unexpired)

Annual Ground Rent

£10

Annual Service Charge

£1,276

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Grant Lowes
01919097020

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