Lot 20 - 22 Azalea Terrace North, Sunderland, Tyne and Wear, SR2 7ES
- Unconditional Online Auction Sale
- Guide Price* : £92,500 plus
ON BEHALF OF THE RECEIVERS : House converted into 4 flats (part let and part vacant) with potential for a gross annual equivalent income of £19,760
Description
The property comprises a substantial two storey mid terraced house, which has been extended to the rear by way of a single storey extension. It has has been converted to with ground floor providing two one bedroom flats, and with a further two flats to the first floor and attic. We were unable to internally inspect the two upper floor flats. Two of these flats are let and one of the vacant flats is fire damaged. Subject to any necessary repairs being carried out and the remainder subsequently being let at the same average rents the property has the potential to produce a gross annual equivalent income of £19,760.
Location
Approximately 0.5 miles from the city centre in an established area for rental accommodation. The property is positioned on Azalea Terrace, which provides access to Tunstall 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.
Tenure
Freehold.
Accommodation
Flat A: Ground Floor - kitchen/lounge, double bedroom and a bathroom.
Flat B: Ground Floor(Rear) - lounge/kitchen, double bedroom and a shower room. - fire damaged
Flat C : First Floor - Not inspected - assumed one bedroom
Flat D : Attic Floor - Not Inspected - assumed one bedroom
We detail the following approximate areas:
Flat A: 44.98 sq.m (484 sq.ft)
Flat B: 42.12 sq.m (451 sq ft)
Flat C: Not Inspected
Flat D: Not inspected
Outside
Yards at front and rear.
Tenancies
Flat C is let at £91.15 per week.
Flat d is let at £103.85 per week.
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.
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