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Lot 18

Residential Investment – 3 Bed Flat – Gross Yield 11%
6 Week Completion

Situation

Located close to the junction with Sandy Lane within this mixed commercial and residential development, conveniently located less than 2 miles from Eastleigh town centre and Eastleigh Station (National Rail).
Eastleigh is a prosperous market and commuter town situated 5 miles north-east of Southampton and 10 miles south of Winchester, benefiting from excellent road communications via the M3 (Junction 13) and M27 (Junction 5).

Property

Forming part of a mixed use development comprising a Self-Contained 3 Bed Flat on the first floor accessed from the rear of the building via a communal rear balcony. The flat benefits from uPVC double gazing, gas central heating and a balcony. In addition, the property includes a Garage.

ACCOMMODATION (measurements to maximum points)

First Floor Flat
Bedroom 1	12'4” × 8'10”
Bedroom 2	10'11” × 8'10”
Bedroom 3	8'9” × 6'7”
Living Room/Kitchen	27'8” × 9'11”
Bathroom
Separate WC

GIA Approx. 670 sq ft plus Balcony and Garage

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 125 years from completion at a peppercorn ground rent.

Tenancy

The property is let on an Assured Shorthold Tenancy to 2 Individuals for a term of 1 year from 14th December 2021 (Holding Over) at a current rent of £9,900 per annum exclusive (£825 pcm).

Video Tour

Click here to view the video tour of the Flat.

Note 1: There is a £923 Rent deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

3a Latham Road, Fair Oak, Eastleigh, Hampshire SO50 8EZ