Block of flats for sale in 67, 69, 71, 73, 75, 77 Lime Tree Avenue, Wymondham, Norfolk NR18

For sale by auction on Wednesday, 12 Jun 2024 at 10:00

Venue: Livestream Auction

High yielding residential investment comprising six studio flats let producing £36,960 pa

A single detached block of six studio flats. Currently all are let on Assured Shorthold Tenancies and produce £3,080 pcm (£36,960 pa). It is located next to the recreation ground in a good letting area of the town, close to a range of services and amenities.

The block has been well maintained by the current owners. All the flats are double glazed and enjoy bright and airy communal areas.

The ground rent is £60 per flat pa. With a yield of over 10% at the guide this offers a unique opportunity for an investor looking for a high yielding secure long term income.

Rent Schedule
67: £550 pcm, £6,600 pa

69: £455 pcm, £5,460 pa

71: £550 pcm, £6,600 pa

73: £450 pcm, £5,400 pa

75: £525 pcm, £6,300 pa

77: £550 pcm, £6,600 pa

Total rent: £36,960 pa

All are now periodic tenancies. Except for 77 which will be periodic from 22nd May 2024.

Description
Each apartment has similar room dimensions and comprises:

Accommodation: Reception room / bedroom, kitchen, dressing room, shower room

Outside
Communal gardens to three sides which arer laid to lawn and off road parking for each apartment

EPC Rating: D & E

Additional Fees
Buyers Premium: £900 inc VAT payable on exchange of contracts.

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.