Agent online is pleased to bring to the market this hotel room, overlooking the river, within The Lion Hotel. This is one of the best buy to let investmentopportunities around - offering great benefitsboth with the property itself as well as withthe superior location, in the popular andpicturesque town of Builth Wells.
Why invest in mid Wales? Be amazed by the rich, rollinggreen landscapes of Powys and theunspoilt Ceredigion coastline. MidWales is the ideal destination fora rural holiday. There’s fantasticwalking, cycling and riding country,from the Brecon Beacon and theCambrian Mountains to the soft,rolling hills around Llanidloes.Builth Wells is the home tothe world famous Royal WelshAgricultural Show, Britain’s largestand most popular agriculturalshow, regularly drawing audiencesof over 240,000 over the four days,with additional events taking placethroughout the year such as, horsesales, the Smallholder & GardenFestival and Winter Fair.Although a bustling town withample shops and a busy HighStreet, Builth also offers anopportunity for people looking to‘get away from it all’. With a leisurecentre, swimming pool, cinemaand arts centre to keep all ages fitand entertained, Builth Wells is theperfect location for accommodation
1 10% NET rental for 5 years
2 3 years rental paid in advance
3 110% optional buy back at year 10
4 No stamp duty
5 7 days free stay every year during ownership
Rental year 1 - £6,000
Rental year 2 - £6,000
Rental year 3 - £6,000
Rental year 4 - £6,000
Rental year 5 - £6,000
Total guaranteed rental - £30,000
Years 5 - 10 the rental will be viewed and based on current market conditions. If the market conditions remain the same you will accumulate £28,450 in the first 5 years per unit. Years 6 onwards is forecast higher than 10% return as stated in initial emails, likely 12% to 15% return.
The ground rent remains constant per annum at £250 perpetually
Total income over 10 years - £80,000 Buy back at 110% - £88,000 Buy back plus rental returns - £168,000 Profit - £88,000 ROI - 110% GOTO Online Auctions is a new, innovative and pioneering platform for buying and selling property. Open to both cash and mortgage buyers. It provides all the benefits synonymous with traditional auctions, including: speed and certainty of sale, transparency and zero risk of gazumping or double-selling but with the added advantage of being able to bid pressure-free from the comfort of your own home or office via desktop, tablet or mobile phone. GOTO also offer a Buy-it-Now feature which allows you to place an offer and purchase before the Auction end date.General InformationAuctioneer's CommentsThis property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be required to exchange contracts immediately after the fall of the virtual hammer, however the buyer will be given 56 days in which to complete the transaction, from the date the Draft Contract is received by the buyer’s solicitor, with the aim being to exchange contracts within the first 28 days. By giving a buyer time to exchange contracts on the property, means normal residential finance can be sort. The Buyers Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.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 Buyers Premium of £6,000 including VAT plus an administration charge of £354 including VAT, a total of £6,354. This secures the transaction and takes the property off the market.The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.
***PHOTOS ARE FOR ILLUSTRATION PURPOSES ONLY***Note from the team at Agent OnlineWe always aim to ensure our properties are displayed accurately with the photos, floorplans and descriptions provided. However these are intended as a guide and purchasers must satisfy themselves by viewing the property in person.
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.
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 may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. 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 £5,400 including VAT, plus a buyer's administration charge of £354 including VAT, a total of £5,754. 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.
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £354.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
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.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.