Lot 22 - 2 Worcester Terrace, Sunderland, Tyne and Wear, SR2 7AR
- Unconditional Online Auction Sale
- Guide Price* : £100,000 plus
Addendum
Flat A is occupied but the tenant has given 1 months notice to vacate from 29th August 2019. The other two flats are vacant.
ON BEHALF OF THE RECEIVERS : House converted into 3 flats (part let and part vacant) with potential for a gross annual equivalent income of £12,000
Description
The property comprises an extended two storey (with attic) mid terrace house which has been converted to provide 3no flats (2no one bedroom and 1no three bedroom flats) having a shared yard accessed by a vehicle roller shutter. One of the flats is occupied (let at £350 per month, but note the tenant has given notice to vacate) and two are vacant. Assuming the vacant flats can be let for £325 per month the property has the potential to produce a gross annual equivalent income of £12,000.
Location
The subject is located in Sunderland, approximately 0.5 miles from the City Centre. Sunderland lies circa 15 miles to the south east of Newcastle and 30 miles to the north of Middlesbrough in Tyne and Wear. The property is positioned on Worcester Terrace, which connects to the junction of A690 & A1231 via Thornhill Crescent. The A690 is a main arterial route linking Sunderland city centre to Junction 62 of the A1 (M). It is 0.3 miles from Park Lane underground train station.
Tenure
Freehold.
Accommodation
Flat A: Ground Floor - entrance hall, open plan living room/kitchen, bedroom and bathroom.
Flat B: Ground Floor(Rear) - lopen plan kitchen/living room, bathroom and bedroom.
Flat C/Attic : entrance hall with staircase, kitchen, living room, bedroom and bathroom to the first floor and hall and 2no bedrooms to the attic. I
We detail the following approximate areas:
Flat A: 34.47 sq.m (371 sq.ft)
Flat B: 30.03 sq.m (323 sq ft)
Flat C: 80.58 sq.m (867 sq ft)
Outside
Externally, to the front elevation between the building and pavement is a small concrete area with dwarf brick wall and a path. To the rear is a paved and gravelled yard accessed from the alley via vehicle roller shutter door.
Tenancies
Flat A is let at £350 per month.
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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