ATTENTION ALL BUY-TO-LET INVESTORS - For Sale via Modern Method of Auction
We are pleased to welcome to the market a 1 Bedroom Ground Floor Flat which is offered for sale with a tenant in situ and, as such, is only available to investment buyers.
The flat is within close proximity of Barnstaple Town Centre and offers a Lounge / Diner, a modern fitted Kitchen and 3-piece Bathroom together with a double Bedroom. It has a low-maintenance, south-facing rear garden and is offered for sale with no onward chain.
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 buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
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
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.
Entrance Porch UPVC double glazed door. Storage, radiator, tiled flooring, new consumer unit, lighting.
Lounge / Diner 18'6" x 9' (5.64m x 2.74m). A large, dual aspect Lounge / Diner with 2 UPVC double glazed windows to front elevation. TV point, power points, telephone point, radiator, fitted carpet.
Kitchen 9'8" x 7' (2.95m x 2.13m). A modern fitted white Kitchen with matching wall and floor units, work surfaces and inset stainless steel sink drainer with tiled splashbacking. Space and plumbing for washing machine, space for cooker. Radiator, tiled flooring, combination boiler. UPVC double glazed door and window to south-facing rear garden.
Bedroom 9'1" x 7'9" (2.77m x 2.36m). A light double Bedroom with UPVC double glazed window to rear elevation overlooking the garden. Radiator, power points.
Bathroom 6'4" x 5'10" (1.93m x 1.78m). 3-piece white suite comprising corner bath with fully tiled surround and electric shower over, WC and hand basin with tiled splashbacking. Storage cupboard with shelving. Radiator, vinyl flooring. UPVC obscure double glazed window.
Outside To the rear of the property is a small, low-maintenance, south-facing garden with mature shrubs and a wooden Storage Shed. There is access from here to the ample parking area which is allocated on a first-come-first-serve basis.
Important Information The property is offered for sale with a tenant in situ and, as such, is only available to investment buyers. The current tenant pays £475.00 per calendar month.
The property has a 99-year Lease with 58 years remaining
Ground Rent - £7.50 per quarter fixed until lease is renewed
Service Charge - 2018/2019: £319.00, 2019/2020: £482.00, 2020/2021: £615.0 (lots of work was done this year as a flat roof was repaired)
Annual Review Variable
From our Office on Boutport Street proceed up Bear Street taking the right hand turning onto Alexandra Road. At the roundabout, take the first exit onto Barbican Road. At the next roundabout, take the first exit onto Victoria Road. Proceed over the next roundabout. Take the first exit at the next roundabout into Whiddon Drive. Take the second left hand turning onto Barton Road and turn right into Peards Down Close. Number 6 will be found clearly displaying a numberplate. Parking will be found at the rear of the property. An agent will meet your outside the property.