Lot 2 - 3 Paddock Lane, Sunderland, Tyne and Wear, SR3 2BX
- Unconditional Online Auction Sale
- Guide Price* : £165,000
Addendum
The rent is £500 per month and the Receiver has decided to not to implement the rent increase as per the Section 13 notice in the legal pack. The purchaser will need to take their own advice as to any future increases and the process to implement them.
- Detached house
- Three Bedrooms and Three Reception Rooms
- Popular location of Tunstall
- Investment Property Let at £6,000 per annum
ON BEHALF OF LPA RECEIVERS: Three bedroom dormer style detached house Let at £500pcm.
Description
A residential investment comprising a three bedroom detached house benefiting from central heating (not tested) and a mixture of upvc and timber framed windows. The property will be sold with a tenant in situ producing an annual equivalent income of £6,000.
Location
The property is located in the popular area of Tunstall close to a number of schools, local amenities and provides a range of transport links.
Tenure
The property is held Leasehold for a term of 999 years from the 17th September 1962.
Accommodation
Ground Floor: Entrance Hall, Living Room, Through Dining Room, further Reception Room, Bathroom, Kitchen and Utility.
First Floor: Three Bedrooms and Bathroom
Outside
Front and rear gardens, driveway and a garage.
Tenancies
The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from the 31st July 2020. The rent is £500 per month. The tenant is holding over.
EPC
Energy Performance Asset Rating - D
Council Tax Band
E
Lease Start Date
17/09/1962
Lease Duration
999 years (937 years unexpired)
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,400 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* 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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