Block of flats for sale in High Street, Easington Lane, Houghton Le Spring DH5

Guide Price £150,000+

Moovd Online Property Auctions are delighted to offer For Sale via Option A – Unconditional Online Auction on 13th June 2024 this fantastic rental investment.

All properties smartly finished, including two 2 bedroom flats, a two bedroom house, with a total rent of £1500 pcm, yielding 12.0% on the advertised Guide Price. Each property is currently bringing in £500 pcm or £18,000 per annum over the three properties.

The layout briefly comprises 16 High Street, the house with spacious lounge, kitchen, rear porch, two double bedrooms and white family bathroom. 16A, a flat including lounge, kitchen, two well proportioned bedrooms and white family bathroom. 16B, the second flat includes large lounge/ kitchen, two spacious bedroom and white family bathroom. All properties include a communal yard with gated access.

The property lies in the popular village of Easington Lane, close to Houghton le Spring town and the A19, A690, A1 allowing an easy commute further afield to nearby Durham, Sunderland and Newcastle. The village itself boasts plenty of practical day-to-day amenities, including Easington Lane Primary School with an Ofsted rating of ‘Good’, travel agent, butcher, hairdressers and Post Office.

This instant, ready made investment is an attractive purchase for any investor looking for a turn-key property. With an attractive Guide Price, we anticipate high interest. Viewing strictly by appointment only.

EPC rating D, D & E.

Property Details

For more information, please contact Moovd directly.

16 Lounge - 3.40 x 3.78 (11'1" x 12'4") - Double glazed window to front, radiator.

Kitchen - 3.45 x 3.78 (11'3" x 12'4") - Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.

Rear Porch - Double glazed door to rear, combi boiler.

Bedroom 1 - 3.48 x 3.27 (11'5" x 10'8") - Double glazed window to front, radiator.

Bedroom 2 - 3.47 x 1.97 (11'4" x 6'5") - Double glazed window to rear, radiator.

Bathroom - White suite including paneled bath, pedestal hand basin, low level WC, radiator, extractor fan.

External - Communal area, mainly paved, gated access.

16A Lounge - 3.79 x 4.23 (12'5" x 13'10") - Double glazed window to front, radiator.

Kitchen - 4.28 x 3.39 (14'0" x 11'1") - Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.

Bedroom 1 - 4.22 x 3.44 (13'10" x 11'3") - Double glazed window to front, radiator.

Bedroom 2 - 2.98 x 2.69 (9'9" x 8'9") - Double glazed window to rear, radiator, boiler.

Bathroom - White suite including paneled bath, pedestal hand basin, low level WC, radiator, extractor fan.

External - Communal area, mainly paved, gated access.

16B Entrance Hallway - Access to roof space.

Lounge/ Kitchen - 6.88 x 2.80 (22'6" x 9'2") - Lounge: Double glazed window to front, radiator.
Kitchen: Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.

Bedroom 1 - 4.31 x 2.37 (14'1" x 7'9") - Double glazed window to front, radiator.

Bedroom 2 - 3.92 x 2.29 (12'10" x 7'6") - Double glazed window to front, radiator.

External - Communal area, mainly paved, gated access.

Moovd may work in partnership with marketing agents on our online auction lots and act as 'The Auctioneer', throughout the sale process.

Option A - Online Unconditional Auction:

The above property is been offered for sale by Online Unconditional Auction (Traditional auction). With this method of sale, both seller and buyer are required to complete the transaction, within the timeframe stated in the General Conditions and Special Conditions of Sale. It is Moovd’s policy that all buyers are without fail aml checked at point of Registration. The buyer is then required to make a non- refundable Administration Fee payment amounting of £3,000.00 Inc VAT (£2,500 + VAT) (This fee is paid in addition to the purchase price and will be chargeable and calculated towards stamp duty). A deposit payment amounting to 10% of the purchase price (or a minimum of £5,000) is also required from the successful buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

Guide Price:

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 during the timed auction.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide price and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

Reserve Price:

The property is offered subject to a Reserve Price (a figure below which we Moovd the Auctioneer cannot sell the property during the timed online auction) the reserve price will be set somewhere within the Guide Range or no more than 10% above a single figure Guide Price.

N.B. The reserve price may be either below or above the quoted guide price.

Anti Money Laundering Regulations

It is Moovd’s policy that all buyers are without fail aml checked at point of offer via signing our Bidder Registration Form.

All buyers will be asked to produce two forms of identification documentation, either as part of the Bidder Registration process of if they make an acceptable pre-auction offer, we would ask for your assistance in order that there will be no delay in agreeing the sale. In addition, we may also ask for proof of funding, where required.

Legal Pack:

Each property has a valid Legal Pack, which is a set of documentation prepared by the seller's solicitor relating to the property been offered for sale. The legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. We recommend you seek the counsel of a solicitor prior to proceeding with any property purchase.

The Legal Pack is available to download via the property details on our website. Moovd take no responsibility in the accuracy of the documents contained within the legal pack.

Particulars:

Moovd have taken reasonable care to prepare particulars that correctly describe each property. The particulars are based on information supplied by or on behalf of the seller. You need to check that the information in the particulars is correct. If we provide information, or a copy of a document, we do so only on the basis that we are not responsible for the accuracy of that information or document. The particulars and the sale conditions may change prior to the timed online auction and it is your responsibility to check that you have the correct versions. If the special conditions do not contain a description of the property, you take the risk that the description contained in the particulars is incomplete or inaccurate, as the particulars have not been prepared by a conveyancer and are not intended to form part of a legal contract.

Viewings:

Most of our properties are available to be viewed, strictly by appointment only.

Bidding:

Pre-auction bids maybe placed via our website:
In order to submit a bid upon any property being marketed by us, all bidders/buyers will be required to adhere to a verification and identity process in accordance with our Anti Money Laundering procedures.

Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and the auctioneer in order that all matters can be dealt with effectively, we would ask for your co-operation in order that there will be no delay in agreeing the sale.

Please Note

Please note that all sizes have been measured with an electronic measuring tape and are approximations only. Under the terms of the The Consumer Protection from Unfair Trading Regulations 2008 we are obliged to point out that none of the services described in these particulars have been tested by ourselves. We present these details of the property in good faith and they were accurate at the time at which we inspected the property. These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of presentation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

Your home is at risk if you do not keep up repayments on your mortgage or other loans secured on it.

Mortgage Advice

It is now a legal requirement under the Estate Agents Act 1991, to establish what mortgage, if any, is required and to confirm the applicants ability to obtain this finance. If you need any help or advice over obtaining a mortgage, our mortgage department will be pleased to help and advise you on all Building Society or Bank mortgages without obligation. This service is available even if you are not buying via ourselves. Written quotations available on request. There is no charge for this service.