Lot 7 - 11 Green Street, Warrington, Cheshire, WA5 1TW
- Unconditional Online Auction Sale
- Guide Price* : £80,000 plus
- 4 bed HMO
- Potential Income circa £17,000
- Great location
Residential investment comprising a mid terrace house in use as a 4 bedroom HMO with 2 rooms currently let
Description
*VIDEO TOUR AVAILABLE ON REQUEST* The property comprises a mid terrace house that is in use as a 4 bedroom HMO. Two of the rooms are currently occupied at a combined gross annual equivalent income of £8,616 (£350 and £368 per month for each room) and if the other two rooms can be let at a minimum of £350 per month the property has potential to produce a combined gross annual income of £17,016. Some refurbishment is required.
Please note that whilst the property was granted a HMO licence in 2014 it does not currently appear on the public register hosted on the local Council's website. However, licensing is only understood to be mandatory for properties that have 5 or more persons occupying in more than 1 household. Interested parties should make their own enquiries as to the legislation relating to management, amenity and fire standards that apply to all HMOs: https://www.warrington.gov.uk/information-about-hmos-and-hmo-licensing.
Location
The property is situated in a convenient location, less than 0.5 mile to the west of the town centre. Nearby there is access to local bus routes on Lovely Lane and the A5061, with Warrington Hospital 0.25 mile to the north and local shops and amenities close by.
Tenure
Leasehold for 942 years from 20th May 1895.
Accommodation
Ground Floor: Entrance Hall, Bedroom 1, Dining Room, Kitchen, WC plus external store off yard
First Floor: Landing, Shower Room/WC and Bathroom/WC, Bedrooms 2 and 3
Attic: Bedroom 4
Outside
Rear yard and storage room
Tenancies
Room 1 - Vacant
Room 2 - Vacant
Room 3 - Let on an AST at £350 per month (may be a statutory periodic tenancy as original term not known - from 3rd June 2020). Note no deposit held from this tenant.
Room 4 - Let on a statutory periodic monthly tenancy at a rent of £368 per month following expiry of a 6 month AST granted from 14th July 2017.
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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