Studio for sale in The Midway, Newcastle-Under-Lyme ST5

Quote Ref: JS0070. **For sale by online auction** **Pre-Auction offers considered** student investment property - A modern studio apartment which is ideal for student living, positioned within Newcastle-under-Lyme town centre, close to an abundance of shops, amenities, bars and restaurants as well as great transport links nearby. Great buy-to-let investment, in a fast growing investment market.

We are pleased to present this one bedroom student apartment, making a fantastic buy to let investment, close to Keele University.

The student investment market property is one of the fastest growing buy-to-let markets in the UK.

This development is a superb, high-yielding opportunity in the UK student accommodation sector. This one bedroom apartment is currently let at £130 per week, for a 51 week period - running until September 2024.

The apartment comes fully furnished. This provides an investor an opportunity of a quick return on their capital. Student tenants at Keele house have the use of a communal lounge and study area complete with sofa’s, desks, TV’s and gaming equipment.

There are on-site laundry facilities, a fully equipped gymnasium free of charge for tenants of the building.

Keele House is a purpose built student accommodation (pbsa) block which is a refurbishment of an office block located in the Newcastle-Under-Lyme town centre. The development is in a fantastic location for universities.

Auction

This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3.6% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £5,940 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. Please remember that the reservation fees are payable in addition to the sale price. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property, you will be required to complete further identity checks for anti-money laundering purposes and provide card details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction, then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.