Maisonette for sale in Nine Elms Road, Gloucester GL2

1st floor, 2 bedroom maisonette flat, 7 The Parade, Nine Elms Road, Longlevens, Gloucester, GL2 0HE

Overview
Hammer Price Homes are delighted to present for sale by ****online auction**** and open for ****cash buyers only**** this vacant & chain free, 1st floor, 2 bedroom maisonette flat in Longlevens, Gloucester.

The accommodation briefly comprises: A private entrance hall and staircase, leading to a generous sized lounge, kitchen, 2 bedrooms and bathroom.

The property benefits from access to private off street parking to the rear of the building.

The accommodation requires a full refurbishment suiting those looking for a modernisation project. Due to the general condition of the property this sale is open to cash buyers only.

The property has been mostly cleared, but please be aware that the vendors intend to remove the remaining personal possessions and items of furniture prior to completion. These will not be included as part of the sale.

The flat is a leasehold property with a long lease of 981 years remaining. Please be advised that there is an absent freeholder. As a result of this the residents of the flats within the building have set up their own management company to personally manage the maintenance of the block. Please see ‘Tenure/Management Information’ section for tenure, freeholder information, residents’ management company, ground rent, service charges, and for further information with regards to the management of the property.

This sale is strictly open for cash buyers only due to the general condition; we feel you would not be able to obtain a standard mortgage on the property. There will be no grounds for the buyer to withdraw from the sale with a return of the reservation fee citing issues around the condition of the property, for any issues in financing the purchase, or for any concerning information within the searches. There will also be no grounds to withdraw due to the absent freeholder and the current management arrangement. The property is sold as seen with 60 days to complete.

Prospective buyers are to obtain their own independent legal advice in relation to the Property, the Tenure and Management information prior to taking part in the auction.

To view this property please visit the Hammer Price Homes website, register your details, and book in for an open day.

Location
The property is situated within close proximity to local shops, schools, amenities, and only a short commute to Gloucester City Centre, with access to a wide range of shopping and leisure facilities. The property benefits from good transport links, with access to the A40 and M5 motorway.

Special conditions
This sale is strictly open for cash buyers only due to the condition; we feel you would not be able to obtain a standard mortgage on the property. There will be no grounds for the buyer to withdraw from the sale with a return of the reservation fee citing issues around the condition of the property, for any issues in financing the purchase, or for any concerning information within the searches. There will also be no grounds to withdraw due to the absent freeholder and the current management arrangement. The property is sold as seen with 60 days to complete.

Tenure/Management Information
Tenure: Leasehold (981 years remaining). Land Registry information, conveyance document dated 09.06.1961 and a copy of the original Lease dated 30.06.2006 is available for download from the Hammer Price Homes website and should be reviewed prior to bidding.

Freeholder Information: Probable Limited, who are an absent freeholder. Attempts to contact Probable Limited have been made but with no response. Therefore we have no information in relation to outstanding ground rent and service charges. Due to the absent freeholder, the vendors solicitor will provide an Absent Landlord indemnity policy on completion (example policy provided and available for download from the Hammer Price Homes website).

Management Pack: Due to the absent freeholder, there is no Leasehold Property Enquiries – LPE1 Form available. See details below in relation to The Parade resident’s management arrangements and management contributions.
Residents Management Company: As a result of the absent freeholder, the residents of the flats within the building have set up their own management company to personally manage the maintenance of the building. We have been informed that the residents management company is called Parade Management. Parade Management have an account in which all residents pay a monthly contribution of £50 (£600 annually) which covers expenditure for building insurance and any general building maintenance. As of Dec 2023, Parade Management had a balance of £2,694 on account and had no planned expenditure. The arrangement is one built on trust between the individual flat owners.

Annual Service Charge: There are no details in relation to the annual service charges due to the absent freeholder. As noted above all residents pay a monthly contribution of £50 (£600 annually) to the residents management company, which covers expenditure for building insurance and any general building maintenance.

Ground Rent: There are no details in relation to the annual ground rent due to the absent freeholder. Proof of past ground rent payment can not be provided. The vendors solicitor will provide an Absent Landlord indemnity policy on completion to cover any outstanding ground rent charges (example policy provided and available for download from the Hammer Price Homes website).

Prospective buyers are to obtain their own independent legal advice in relation to the Property, the Tenure and Management information prior to taking part in the auction.

Online Auction Details
** Strictly for cash buyers only. 60 days to complete**

Auction ends – Wednesday 22nd May 2024 at 2:00pm (Subject to anti-sniping)

Bidding Window Opens – Monday 20th May 2024 at 10:00am (Bidding will not be possible until this time)

Starting price – £76,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms).

Fees
All fees are payable by bank transfer only (we do not take card payments).

Reservation Fee – Please note that there is a Reservation Fee (3.6% Inc. VAT subject to a minimum fee of £3,600 Including VAT) is payable by the buyer within 2 hours of winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer’s fee and is to be paid over & above the sale price paid to the Vendor.

Searches – The buyer is required to pay £300 (Inc. VAT) for the search pack. This is payable at the same time as the reservation fee.

Viewings
To view the property please visit the Hammer Price Homes website, register as a buyer and book in for a viewing. Bidding is only permitted for those who have viewed. Viewers must stick to their time precisely.

Other Information
The Administrator / Solicitor dealing with the estate has never lived at the property and therefore has limited knowledge. The below information has been provided to the best of our knowledge and should not be relied on in full. Please note due to the nature of the property some of the services may be isolated.
Council Tax Band - A
EPC Rating – F
Utilities:
Primary source of Water Supply: Assumed Mains Water
Primary source of Electricity Supply: Assumed Mains Electricity
Primary source of Gas Supply: No Gas Connection
Source/s of heating: Electrical room heaters
Primary arrangement for Sewerage/Drainage: Assumed connected to a Public Sewer
Accessibility: Access to the first floor maisonette flat is via a private internal staircase.

Searches
Searches have been ordered and will be made available for download from the Hammer Price Homes website prior to the bidding taking place. The winning bidder will be required to pay for the search pack which is £300 (Inc. VAT), this is payable at the same time as the reservation fee. Prospective buyers are to review all searches available prior to bidding.

Property Details
Approx. Gross internal floor area – 685.4 sq ft / 63.7SQM (overall area does not includes the entrance hallway and staircase to the ground floor)

First Floor
Entrance Hallway leading to these rooms:
Lounge - 13'3 x 13'1 (4.05m x 4.00m)
Kitchen - 14'0 x 7'11 (4.27m x 2.41m)
Bedroom 1 - 15'10 x 9'11 (4.83m x 3.03m)
Bedroom 2 - 13'1 x 8'10 (3.98m x 2.68m)
Bathroom – No measurements taken

Parking
Off-street parking to rear of building.

How to make an offer
Offers can only be made via the online auction in the form of a bid once the bidding window has opened. No offers will be accepted outside of the auction process.

Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed at the winning auction price and the buyer honoured to pay it. Any subsequent attempt by the buyer to contact the vendor direct to renegotiate on price would hold the buyer in breach of our terms. Should the buyer withdraw then they may have to forfeit the reservation fee. Please read the buyer terms and faq’s on the site for more details.

This is a probate property and is sold as seen. The Administrator / Solicitor dealing with the estate has never lived at the property so may not be able to answer the usual pre-contract questions or provide a property information form.