Lot 27 - 41 Maindee Parade, Newport, Gwent, NP19 8FJ

Description

ONLINE AUCTION from 6th - 8th October
An excellent opportunity to acquire a semi detached property arranged as two separate self contained flats, offering strong potential for investors, landlords or those seeking a multi-generational living arrangement.

The ground floor flat is currently occupied by a tenant who is keen to remain. The ground floor comprises two bedrooms, together with living accommodation and access to a rear garden.

The upper accommodation offers a spacious maisonette which offers two to three bedrooms, lounge, fitted kitchen and bathroom.

Benefits include double glazed windows, and gas central heating provided by combination boilers (untested)

The property offers the opportunity to acquire a versatile residential investment with two distinct living units, with the existing tenant providing an immediate income stream and further income potential from the upper maisonette.

For buy to let purposes we would anticipate the maisonette flat achieving in the region of £850-£950 per calendar month

The property is well placed for access to Newport city centre and the surrounding areas, with a range of local amenities and services nearby. Newport's extensive road network provides convenient access to the A48 Southern Distributor Road, A449 and M4 motorway, with Junctions 24–28 providing connections across South Wales and towards Bristol and the Midlands.

Accommodation

Ground Floor: Communal Hallway access to both flats
Ground Floor Flat: Entrance, Lounge, Two Bedrooms, Kitchen, Bathroom and Rear garden
First Floor: Lounge, Kitchen, Bedroom 3 / Reception room, Bathroom
Top Floor: Two bedrooms
Outside: Rear garden, Driveway to front

Council Tax Band

B

Tenancies

Ground floor flat is let at £185 per week - £9620 Per Annum
Maisonette is vacant but could let for approximately £850-£950 per calendar month

Tenure

Advised Freehold - 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.