Lot 8 - 252 (& 2A Darlington Street) Spendmore Lane, Coppull, Chorley, Lancashire, PR7 5DE
- Unconditional Online Auction Sale
- Guide Price* : £110,000 plus
- Residential investment comprising 2 flats in a single building
- Annual equivalent gross income of £11,880 with opportunity to increase
- Convenient location
Residential investment comprising 2 flats let at a combined annual equivalent gross income of £11,880*
Description
*VIDEO TOUR AVAILABLE ON REQUEST* To be sold with tenants in situ, the property comprises two flats which are both let at a monthly rent of £495 (£990 combined per month). 252 Spendmore Lane is a ground floor flat, with a large lounge, double bedroom, kitchen and a shower room. This part of the property also benefits from a rear yard. 2A Darlington Street has a separate ground floor entrance, with stairs leading to a landing, Kitchen/Lounge, bathroom and a double bedroom.
* Note that the tenant of the ground floor flat has given notice to vacate on 28th March - the clients letting agent advises a rent of £525 per month is achievable. If a new letting is secured at this level the combined annual equivalent gross income will rise to £12,240
Location
Conveniently situated on Spendmore Lane (B5251) which provides access to local bus routes the village centre is within a few minutes' walk. Here there are a number of local retail and takeaway outlets, together with a Co-Op supermarket. Chorley town centre lies approximately 2.5 miles to the north and Standish 2.25 miles south. There is quick access to the motorway network at either Junction 27 of the M6 (2.5 miles to the southwest), or Junction 8 of the M61 just to the north of Chorley town centre.
Tenure
Freehold. Note part of the property is on land outside the title the majority of which is unregistered. The Seller has owned the property since 2015.
Accommodation
Please note some dimensions may be maximum widths:
252 Spendmore Lane (Ground Floor):
Lounge - 3.36m x 5.65m
Kitchen - 2.41m x 4.65m
Shower Room - 3.03m x 2.64m
Bedroom - 3.63m x 4.64m
Cupboard
2a Darlington St: (First Floor):
Ground floor entrance lobby
Lounge/Kitchen - 4.63m x 3.64m
Bathroom - 2.30m x 2.47m
Bedroom - 3.18m x 4.70m
Cupboard
Outside
Rear Yard.
Tenancies
252 Spendmore Lane (Ground Floor): Holding over at £495 pcm following 12 month AST started on 29/4/21. Note that the tenant of the ground floor flat has given notice to vacate on 28th March - the clients letting agent advises a rent of £525 per month is achievable.
2a Darlington St: (First Floor) - 12 month AST at £495 pcm started on 2/3/22.
EPC
Both flats have an Energy Asset Rating of C.
Council Tax Band
A
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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