Lot 28 - 16 Flats at The Queens Court, Victoria Road, Aberavon, SA12 6AU

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Lot 28 - 16 Flats at The Queens Court, Victoria Road, Aberavon, SA12 6AU

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Guide Price* : £335,000+

  • Unconditional Online Auction Sale
  • 16 Bedrooms

Lot 28 - Residential Investment

Description

ONLINE AUCTION from 14th MAY-16th MAY

An opportunity to acquire 16 flats situated in a block of 24 in the sought after seaside location of Aberavon. Included in the sale is the headlease of the whole building and carpark.

The flats are sold with 14 flats let and two vacant with many of the tenants well established. The flats (with off-street parking) are situated just a short distance from the promenade which boasts one of the largest beaches in Wales with great views.

The area has seen a good level of investment over the last few years and there are many new residential developments close by and this site may offer scope for improvement or re development in the future.

VIRTUAL TOUR

Accommodation

Please note only 2 of the flats have been inspected internally by auctioneers however we are informed that the configuration of the 16 flats are all the same and comprise;- entrance, lounge/kitchen/bedroom and bathroom.

Council Tax Band

A

Accommodation

Floor Description Rent
Flat 1 £300 pcm
Flat 3 £310 pcm
Flat 4 £325 pcm
Flat 6 £300 pcm
Flat 7 £300 pcm
Flat 8 £300 pcm
Flat 10 £300 pcm
Flat 11 £300 pcm
Flat 12 £325 pcm
Flat 13 £325 pcm
Flat 14 (Vacant) Vacant
Flat 15 £325 pcm
Flat 18 £300 pcm
Flat 20 (Vacant) Vacant
Flat 22 £300 pcm
Flat 23 £325 pcm
Annual income £52,020
Annual income when fully let £55,420

Tenancies

14 flats are let
Annual income £52,020
Annual income when fully let £55,420

The LHA (local housing allowance) rates for each of the flats is £94.74 per week which would give a gross rent of (£94.74 X 52 X 16) £ 78,823.

Tenure

Advised Leasehold (council as ultimate freeholder)- to be verified by solicitor

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium/admin fee of 1.5% of the purchase price (subject to a minimum of £1,500 for sale prices between £1 and £50,000 or subject to a minimum of £2,400 for sale prices of £50,001 upwards) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.

* 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.

Guide Price* : £335,000+

  • Unconditional Online Auction Sale
  • 16 Bedrooms

Lot 28 - Residential Investment

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Paul Fosh Auctions

info@paulfoshauctions.com 01633 254044

Office Contact

Sean Roper

sean@paulfoshauctions.com 01633254044
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Lot 28 - 16 Flats at The Queens Court, Victoria Road, Aberavon, SA12 6AU

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