8 bedroom block of apartments for sale

FOR SALE BY AUCTION: To be sold by public auction on the owner's instruction. A freehold end terrace house in Scarborough configured as four tenanted two-bedroom flats with a gross annual yield of 10.9%. To be sold via online bidding on Friday, 17 May 2024.

Auctioneers comments: 'A substantial end terrace freehold house that offers the winning bidder potential to increase the yield and value. This is a rare opportunity to buy four flats in a central Scarborough location.'

Auction date
The property is to be sold by public auction on Friday, 17 May 2024, via a 2-hour online bidding window.

To view
The property can be viewed by booking onto one of the advertised managed block viewings. Once you have registered to bid by setting up your online bidding account, you will be emailed a Calendly link to do this. Each block viewing is strictly 30 minutes, and no ad hoc viewings will be available. In most cases, a video tour will be available.

Description
Freehold, end terrace, four flats, parking, gross annual yield of 10.9% (£25,178.40)

Location
Scarborough, Yorkshire, 0.7 miles to Scarborough railway station

Accommodation
Flat 1: Ground floor split level maisonette comprising a front and back door with access to a private walled and gated yard as well as living room, two bedrooms, kitchen/diner, utility and bathroom.
Living room: 4.58m x 4.41m (14'9'' x 14'5'')
Bedroom: 4.1m x 3.8m (13'5'' x 12'5'')
Bedroom: 1.88m x 1.93m (6'2'' x 6'4'')
Kitchen/diner: 4.91m x 3.0m (16'1'' x 9'10'')
Utility area: 1.85m x 3.69m (6' x 12'1'')

Flat 2: First floor flat with two bedrooms, living room, kitchen and bathroom.
Living room: 2.68m x 4.36m (8'9'' x 14'3'')
Kitchen: 2.36m x 3.86m (7'9'' x 12'8'')
Bedroom: 2.95m x 3.82m (9'8'' x 12'6'')
Bedroom: 1.87m x 2.79 (6'1'' x 9'1'')

Flat 3: Second floor flat with two bedrooms, living room and bathroom.
Living room: 2.68m x 4.36m (8'9'' x 14'3'')
Kitchen: 2.36m x 3.86m (7'8'' x 12'7'')
Bedroom: 2.95 x 3.82m (9'8'' x 12'6'')
Bedroom: 1.87m x 2.79m (6'1'' x 9'1'')

Flat 4: Third floor flat with two bedrooms, living room and bathroom.
Living room: 2.7 x 4.35m (8'10'' x 14'3'')
Kitchen: 2.4m x 4.41m (7'10'' x 14'5'')
Bedroom: 2.61m x 3.4m (8'6'' x 11'1'')
Bedroom: 2.23m x 3.45m (7'3'' x 11'3'')

Outside
Front garden area, off street parking to the rear

EPC rating
Flat 1: to be confirmed
Flat 2: to be confirmed
Flat 3: C
Flat 4: to be confirmed
Tenure

Local authority and council tax band
North Yorkshire Council
Council tax bands:
Flat 1: B
Flat 2: A
Flat 3: A
Flat 4: A

Pre-auction bids
To make a pre-auction bid, you must be an approved bidder. Once you have set up your online bidding account, verified your ID and paid the security deposit, you can email the amount you would like to bid. The common auction conditions and special conditions apply to all pre-auction bids, and no conditions will be acceptable. Should your pre-auction bid be accepted, you will need to immediately pay the balance of the 10% deposit (min. £5,000) and all auction fees listed. The Auctioneer reserves the right to refuse any bid.

Auction fees
In addition to the 10% deposit (min. £5,000) of your winning bid, you must pay an auction buying commission of 2% plus VAT (min. fee of £2,100 plus VAT) of the purchase price and auction buying fee of £1,900 plus VAT. Please be aware that additional fees may be payable on completion, including disbursements in the legal pack. Check the legal pack for each lot you are interested in before bidding.