Lot 7 - 131 Lovely Lane, Warrington, Cheshire, WA5 1UB

Unconditional Online Auction Sale
Guide Price* : £130,000 plus

Former 6 Bed HMO
Great Location
Refurbishment Opportunity

Mid-Terrace 6 Bedroom HMO in need of refurbishment

Description

*VIDEO TOUR AVAILABLE UPON REQUEST* The property comprises a vacant mid-terrace house formerly used as a 6 bedroom HMO. The licence was granted for 5 years from 6th July 2016 and a new owner will need to apply for a new licence. The property requires refurbishment and works to meet current criteria and interested parties should enquire with the local Council. If converted to a house for single occupancy the property could have 4 or 5 bedrooms depending on how many reception rooms are required. Assuming £85 per room is achievable and a HMO licence for 6 rooms is granted the property has the potential to produce a gross annual equivalent income of £26520 once fully let.

Location

The property benefits from a convenient location, immediately adjacent to Warrington Hospital, with access to several bus routes on Lovely Lane. Nearby are a number of neighbourhood retail outlets, a petrol filling station and the town centre is within 0.75 mile.

Tenure

Leasehold for 999 years from 25th June 1884.

Accommodation

Ground Floor: Two Bedrooms, Kitchen, Dining/Utility Room and WC
First Floor: Three Bedrooms, Bathroom with bath, separate shower and WC and Shower Room with WC
Second Floor: Bedroom

Outside

Forecourt to the front and enclosed rear yard.

EPC

Energy Asset Rating is D

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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