Flat 1 - 4 52 Ninfield Road, Bexhill-on-Sea, East Sussex, TN39 5AB
- Conditional Online Auction Sale
- Bedrooms: 6
- Bathrooms: 4
Description
AP Estate Agents are proud to present to the market a Freehold building containing 4 residential units consisting of x2 1 Bedroom apartments and x2 Two bedroom apartments.
Located in a prime position in the centre of Sidley Village, this attractive investment opportunity comprises four residential apartments, all currently let on assured shorthold tenancies. For investors seeking immediate income, the block offers a ready made portfolio with a solid, consistent yield. The building was developed approximately ten years ago to create four thoughtfully designed apartments, each offering bright, airy accommodation and a practical layout that suits modern living. The interiors are in excellent decorative order, having been well maintained and carefully looked after by both the owners and long standing tenants. The one bedroom apartments feature a sitting room and bedroom positioned at the front of the building, with modern kitchens and bathrooms completing the layout. The two bedroom apartments enjoy an open plan sitting room and kitchen, connected by a full width serving hatch, creating a sociable and functional living space. The upper apartment benefits from a Juliette balcony overlooking the street, while both two bed units have a rear second bedroom with built in storage. Communal areas are wide, clean and well maintained, with a generous storage cupboard available at entry level. All apartments are fitted with electric central heating systems powering conventional radiators. A well presented, fully let block in a strong rental location — ideal for investors looking for a reliable, income producing asset.
Access is gained directly from the street into a well kept communal reception area, with the apartments arranged over the first and second floors. The ground floor is occupied by commercial units, and there is potential to add an additional storey, subject to planning — an option already explored by the current owner, further enhancing the building’s long term potential and profitability. To the rear, residents benefit from an outdoor communal space large enough for seating, offering a pleasant spot to relax outside. This area can also be reached via the neighbouring garage block, providing practical access for deliveries, maintenance and removals.
Leasehold Information: 125 years from and including 17 March 2016
Tenure
LEASEHOLD
Opening Bid and Reserve Price
This Property is subject to an undisclosed Reserve Price which in general will not be 10% more than the Opening Bid. The Reserve Price and Opening Bid can be subject to change. The Online Auction terms and conditions apply.
Comments
This property is offered for sale via Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to exchange and complete the transaction from the date the Draft Contract is issued by the sellers solicitor.
By giving a buyer time to exchange contracts on the property, normal residential finance can be arranged. The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative.
The buyer will be required to give the Auctioneer authority to sign the Reservation Form on their behalf and to confirm acceptance of the Terms and Conditions prior to solicitors being instructed. Copies of the Reservation Form and all Terms and Conditions can be found in the Information Pack which can be downloaded from our website or requested from our Auctioneer.
Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer's Premium of £19,440 including VAT, plus a buyer's administration charge of £396 including VAT, a total of £19,836. This secures the transaction and takes the property off the market. Any additional fees and charges over and above this will be confirmed within the terms and conditions available on the website.
The Buyer's Premium and buyer's administration charge are in addition to the final negotiated selling price.
All buyers will be required to verify their identity and provide proof of how the purchase will be funded.
Buyer's Administration Charge
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £396 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
Buyer Fees
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
- You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
- Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.
Energy Performance Certificate(EPCs)
An EPC is broadly like the labels provided with domestic appliances such as refrigerators and washing machines.Its purpose is to record how energy efficient a property is as a building. The certificate will provide a rating of the energy efficiency and carbon emissions of a building from A to G, where A is very efficient, and G is inefficient.The data required to allow the calculation of an EPC includes the age and construction of the building, its insulation and heating method.EPCs are produced using standard methods with standard assumptions about energy usage so that the energy efficiency of one building can easily be compared with another building of the same type.The Energy Performance of Buildings Directive (EPBD) requires that all buildings have an EPC when they are marketed for sale or for let, or when houses are newly built. EPCs are valid for 10 years, or until a newer EPC is prepared.During this period the EPC may be made available to buyers or new tenants.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
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