Lot 19 - 24 Gray Road, Sunderland, Tyne and Wear, SR2 8HB
- Unconditional Online Auction Sale
- Guide Price* : £140,000 plus
Addendum
Flat D is believed to be let at £395 per month and according to the housing benefit office the tenancy started in April 2011.
ON BEHALF OF THE RECEIVERS House converted into 4 flats (part let and part vacant) with potential for a gross annual equivalent income of £19,600
Description
The property comprises a substantial three storey mid terraced house, which has been extended to the rear by way of a single storey extension. It has has been converted to provide four flats with the ground floor providing 2 x one bedroom flats, a two bedroom flat to the first floor and further flat to the second floor. Two of these flats are let, albeit the Receivers have not managed to contact one of the tenants (but have information from the housing benefit office). Therefore 1 is confirmed let at £400 per month and subject to any necessary repairs being carried out (one of the vacant flats are part way through a refurbishment) and the remainder subsequently being let at the same rent the property has the potential to produce a gross annual equivalent income of £19,200.
Location
Approximately 0.5 miles from the city centre in an established area for rental accommodation. The property is positioned on Gray Road, which provides access to Ryhope Road and the A1231 inner ring road. The main A19 is located 4 miles to the south west and junction 63 of the A1(M) lies 8.5 miles to the west. Sunderland Railway Station is located less than a mile from the property and provides links to Newcastle and the wider rail network.
Accommodation
Flat A: Ground Floor - lounge/kitchen, double bedroom and bathroom.
Flat B: Ground Floor(Rear) - lounge/kitchen, double bedroom and bathroom - partway through refurbishment
Flat C : First Floor - lounge/kitchen, two double bedrooms and a bathroom.
Flat D : Attic Floor - Not Inspected - assumed two bedroom
We detail the following approximate areas:
Flat A: 45.61 sq.m (491 sq.ft)
Flat B: 45.58 sq.m (491 sq ft)
Flat C: 45.23 sq.m (487 sq.ft)
Flat D: Not inspected
Outside
Garden to the front and yard at the rear.
Tenancies
Flat C is let at £400 per month and Flat D is believed to be let at £395 per month and according to the housing benefit office the tenancy started in April 2011.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £1,800 (inc VAT) payable upon exchange of contracts.* 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.
Loading the bidding panel...
Additional Documents
Office Contact
Important Documents
Agreement Documents
Legal Documents
Log in to view legal documentsShare
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.