Flat for sale in Queen Street, Sheffield, South Yorkshire S1

Auction closing date 7th May at 2pm

For sale by modern method of auction

Investment Opportunity: New Bank House, Sheffield

Overview:
Welcome to New Bank House, Sheffield, a fantastic investment opportunity located in the heart of the city. This studio apartment is being sold tenanted via the Modern Method of Auction, with a starting bid of just £30,000. Whether you're a seasoned investor or someone looking to enter the property market, this property offers great potential.

Investment Benefits: Steady Income: With the property already tenanted, you can start earning income immediately. No need to worry about finding tenants or dealing with vacancies.
Tenancy From 25th June 2023 - To 24th June 2024
Rent - £520pcm, although this is below current market rent and you would be able to achieve £625pcm

Affordable Entry: With a starting bid of just £30,000, this property offers an affordable entry point into the property market, making it ideal for first-time investors or those looking to diversify their portfolio.

Sheffield is a vibrant city with a growing demand for rental properties. As the city continues to attract students, professionals, and young families, the potential for rental growth is promising.

On-Site Amenities: Residents of New Bank House can enjoy a range of on-site amenities, including a gym, laundry facilities, study zones, and relaxation areas. These amenities add value to the property and enhance its attractiveness to tenants.

Location: Situated in the heart of Sheffield, New Bank House offers easy access to the city's amenities, including shops, restaurants, parks, and public transportation. With its central location, the property is well-positioned to attract tenants seeking convenience and accessibility.

Why Choose the Modern Method of Auction?
The Modern Method of Auction offers transparency, speed, and flexibility for both buyers and sellers. It allows buyers to bid online or in person, providing an efficient way to secure a property. With a starting bid of just £30,000, this is an opportunity not to be missed.

Contact Us: Don't miss out on this excellent investment opportunity. Call today to arrange a viewing and take the first step towards securing this tenanted studio apartment at New Bank House, Sheffield.

**** auction terms ****

Auctioneer Comments 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. 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 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 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 change. Referral Arrangements 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.

Important Note to Potential Purchasers & Tenants:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Potential purchasers: Fixtures and fittings other than those mentioned are to be agreed with the seller. Potential tenants: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

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