Terraced house for sale in The Promenade, Mount Pleasant, Swansea SA1

For sale by auction on Wednesday, 19 Jun 2024 at 12:00

Venue: Online

Residential Investment-5 flats

An opportunity to purchase a substantial three storey mid terraced house with an open outlook over Swansea Bay. The accommodation is provided by way of a 5 x studio flats (2 x Ground Floor, 2 x First Floor, 1 x Top Floor). We are advised by the seller that they pay the bills for the property and with each flat having an independent electric meter. The current annual income being generated is a gross annual rent of £34,680 per annum.

The house is located within the Mount Pleasant area of the city and is therefore popular with students and professionals as good access is provided to the City Centre.

Tenancies
We understand that the current gross annual income is £34,680 per annum and we are advised that this is split as shown below. Please refer to the legal pack for confirmation of incomes.

Ground Floor Front Studio is let at £495 p/c/m.

Ground Floor Rear Studio is let at £600 p/c/m.

First Floor Front Studio is let at £495 p/c/m.

First Floor Rear Studio is let at £700 p/c/m.

Top Floor Studio is let at £600 p/c/m.

Outside
The top floor unit benefits from an external balcony. There is also an area to the rear providing off road parking, to the front is a good size garden.

Viewings
Auction House Wales on Council Tax Band - E
EPC Rating: Ground Floor Front Flat -D, Grount Floor Rear Flat - D, MIddle Floor Front Flat - C & Middle Floor Rear Flat - E Top Flat - E

Additional Fees
Administration Charge - 1.2% 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.