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FREEHOLD HOUSE CONVERTED INTO TWO FLATS, PRODUCING INCOME OF 18,300 PA

Lot 57

22 The Lees, Faringdon, Oxfordshire SN7 7BB

Photo of 22 The Lees, Faringdon, Oxfordshire SN7 7BB
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FREEHOLD HOUSE CONVERTED INTO TWO FLATS, PRODUCING INCOME OF 18,300 PA

Lot 57

This centre terraced house has been converted into two flats and has been granted a certificate of lawfulness by the local authority under planning reference 08-00494-EUC for this usage. The property comprises of a one bedroom ground floor flat, let on an assured shorthold tenancy at a current rental of 525 pcm (6300 pa). We understand that the tenant is holding over on a six month agreement. The first and second floors offers a two bedroom flat, let on a six month assured shorthold tenancy at 1000 pcm (12,000pa), thus equating to an annual income of 18,300 when let for the full period. The property is sold with the benefit of this ongoing investment income. The building benefits from gas central heating and mainly double glazing. The Lees is located off Hart Avenue, to the east of the town centre.

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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) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Additional Fees

Please note that the following additional fees will apply to the purchase of your property:

  • Buyers Premium of £600 inclusive of VAT
  • Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
  • Stamp Duty - rates easily available on-line
  • Your solicitor fees and any survey fees
  • Insurance - it is your responsibility from the date of exchange to insure the property purchased.

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