Block of flats for sale in 44-48 Balfour Road Bentley, Doncaster, South Yorkshire DN5

For sale by online auction on Tuesday, 14 May 2024 ending at 13:18

for sale via national online auction! Six apartments producing £26,439 per annum.

A substantial freehold block of 6 apartments fully let on assured shorthold tenancy agreements, many of them to long standing established tenants and providing a healthy annual income of £26,439, or around 20% gross yield at around the guide price figure, with scope to increase in line with market rates. The six properties are sold with all rental certification in place and have independent access, meters for gas and electricity, own central heating systems and double glazing.

The building has private outside space with further future development potential, subject to planning, as similar end units have obtained planning permission for additional attached dwellings.

Occupying a corner position with potential for car parking to the rear, located a short drive or bus journey into the City of Doncaster, and close to large national employers nearby, these properties are always likely to be in high demand from tenants looking for affordable accommodation. We understand from the sellers solicitor that purchasers would still benefit from multiple dwelling relief on the property purchases, ie no stamp duty payable before the relief is withdrawn.

A significant building in an area popular with tenants and providing an income from the day of purchase, a rare opportunity to purchase such an investment property, with all six properties located on one site for ease of management.

Current tenancies and incomes ;

•{tab}44a Balfour £425pcm

•{tab}44b Balfour £325pcm

•{tab}46a Balfour £325pcm

•{tab}46b Balfour £425pcm

•{tab}48a Balfour £346.66pcm

•{tab}48b Balfour £356.67pcm

Local housing allowances for this type of property are circa £375 per month, indicating a potential uplift in rental returns and a projected income around £30,000 per annum.

External viewings only as tenanted, please do not disturb tenants peaceful enjoyment of the property. Video tour available for 44a taken before its recent re-let, and the legal pack will contain inventories and condition

Additional Fees
Buyers Premium: £1200 inc vat payable upon the fall of the virtual gavel

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.