Guide price
£250,000
4 bed flat for sale60A, B, C & D High Street, Newington, Kent ME9
4 beds
4 baths
EPC Rating: D
Just added
Auction
Freehold
About this property
Established freehold residential investment comprising four self-contained flatsGuide Price £250,000 to £300,000* Buyers Premium Applies
For sale by online auction. To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website
Town & Country Property Auctions are delighted to offer For Sale by Public Auction an established freehold residential investment comprising four self-contained flats, currently fully let and producing £34,800 per annum, with scope for future rental growth and potential break-up value, subject to the necessary consents.
Situated on High Street in Newington, this substantial property has been converted to provide four self-contained residential units, comprising two studio flats and two one-bedroom flats.
The property is currently fully occupied and produces a combined rental income of £2,900 per calendar month / £34,800 per annum.
Current Rental Schedule
Flat A Studio
£700 pcm
Flat B Studio
£700 pcm
Flat C One Bedroom
£750 pcm
Flat D One Bedroom
£750 pcm
The vendor advises that the property has enjoyed an excellent letting history, with strong tenant retention and no historic rental arrears during his ownership. The existing rents have intentionally been maintained at comparatively modest levels in favour of retaining established tenants rather than regularly maximising the rental income.
As such, the property may offer the incoming purchaser an opportunity to review the existing rental levels in the future, subject to the individual tenancy agreements, prevailing market conditions and all applicable statutory requirements.
The building is held freehold and, importantly, the four flats have not currently been separated into individual long leasehold titles. This may provide an additional longer-term opportunity for an incoming purchaser to investigate the potential creation of separate leasehold titles and subsequent break-up/resale value.
Any purchaser considering a title split or individual resale of the units should make their own enquiries and take appropriate legal and professional advice regarding planning, building regulations, lending requirements and any other necessary consents.
The existing marketing information further advises that the building benefits from double glazing and parking for approximately two to three vehicles.
This represents an interesting opportunity for both established and first-time portfolio investors to acquire an income-producing freehold asset comprising four individual dwellings, with an established rental history, potential for increased future income and an additional possible break-up strategy.
The property will be entered into our 29th September auction which is held online and starts at 10am. You must register to bid and download the legal pack.
Property features
Number of Bedrooms: 4
. Reception Rooms: 2
. Parking at the rear for 2/3 cars
. Council tax band: A = A B = A C = A D = A
. Market Value: £375,000
. Rental Value Per Month: £2900
. Freehold
. 56 Day Completion
Tenancy information
Tenancy Term: Rolling Tenancies
. Tenancy Start Date: A = 1st July 2026 B = 1st February 2022 C = 1st October 2017 D = 1st September 2022
. Tenancy Type: AST
. Are the Tenants in Arrears: No
Viewing arrangements
We will be holding a block viewing, please call us on . Please contact Town & Country Property Auctions for more information and to register for the auction. The auction will be held online, and registration is now open.
Unconditional lot Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 4%+VAT (subject to a minimum of £10,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 56 days following the auction (unless otherwise stated).
Pre Auction Offers Are ConsideredThe seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of id, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the legal documents'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
For sale by online auction. To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website
Town & Country Property Auctions are delighted to offer For Sale by Public Auction an established freehold residential investment comprising four self-contained flats, currently fully let and producing £34,800 per annum, with scope for future rental growth and potential break-up value, subject to the necessary consents.
Situated on High Street in Newington, this substantial property has been converted to provide four self-contained residential units, comprising two studio flats and two one-bedroom flats.
The property is currently fully occupied and produces a combined rental income of £2,900 per calendar month / £34,800 per annum.
Current Rental Schedule
Flat A Studio
£700 pcm
Flat B Studio
£700 pcm
Flat C One Bedroom
£750 pcm
Flat D One Bedroom
£750 pcm
The vendor advises that the property has enjoyed an excellent letting history, with strong tenant retention and no historic rental arrears during his ownership. The existing rents have intentionally been maintained at comparatively modest levels in favour of retaining established tenants rather than regularly maximising the rental income.
As such, the property may offer the incoming purchaser an opportunity to review the existing rental levels in the future, subject to the individual tenancy agreements, prevailing market conditions and all applicable statutory requirements.
The building is held freehold and, importantly, the four flats have not currently been separated into individual long leasehold titles. This may provide an additional longer-term opportunity for an incoming purchaser to investigate the potential creation of separate leasehold titles and subsequent break-up/resale value.
Any purchaser considering a title split or individual resale of the units should make their own enquiries and take appropriate legal and professional advice regarding planning, building regulations, lending requirements and any other necessary consents.
The existing marketing information further advises that the building benefits from double glazing and parking for approximately two to three vehicles.
This represents an interesting opportunity for both established and first-time portfolio investors to acquire an income-producing freehold asset comprising four individual dwellings, with an established rental history, potential for increased future income and an additional possible break-up strategy.
The property will be entered into our 29th September auction which is held online and starts at 10am. You must register to bid and download the legal pack.
Property features
Number of Bedrooms: 4
. Reception Rooms: 2
. Parking at the rear for 2/3 cars
. Council tax band: A = A B = A C = A D = A
. Market Value: £375,000
. Rental Value Per Month: £2900
. Freehold
. 56 Day Completion
Tenancy information
Tenancy Term: Rolling Tenancies
. Tenancy Start Date: A = 1st July 2026 B = 1st February 2022 C = 1st October 2017 D = 1st September 2022
. Tenancy Type: AST
. Are the Tenants in Arrears: No
Viewing arrangements
We will be holding a block viewing, please call us on . Please contact Town & Country Property Auctions for more information and to register for the auction. The auction will be held online, and registration is now open.
Unconditional lot Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 4%+VAT (subject to a minimum of £10,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 56 days following the auction (unless otherwise stated).
Pre Auction Offers Are ConsideredThe seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of id, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the legal documents'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
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