Residential Development in NN1

St. Michaels Avenue, Northampton, Northamptonshire, NN1 4JQ

Brochure

Tenure: Freehold

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Starting bid£275,000

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Key Information

Parking: Allocated

Property features

No Upward Chain
Three Apartments
Two Occupied & One Vacant
Scope for Redevelopment SSTP

Residential Development in NN1

For sale via auction - fees, terms and conditions apply.

Offered to the market with no onward chain is this excellent investment opportunity comprising block of three self contained apartments, with two currently let and the ground floor offered with vacant possession.

The spacious ground floor one bedroom apartment comprises lounge, bedroom, kitchen, bathroom, converted cellar and useful store room, together with access to the rear garden. This apartment offers scope for further improvement and represents an opportunity to add value.

The first floor two bedroom apartment comprises two bedrooms, a lounge, kitchen and three piece bathroom and is currently let on a company let, generating £900 PCM.

The top floor one bedroom apartment comprises a lounge, kitchen, bedroom and three piece bathroom and is also let on a company let, currently achieving £775 PCM.

With two apartments already producing a combined rental income of £1,675 PCM (£20,100 per annum), this represents an attractive opportunity for investors seeking an established income stream, while also offering further scope for redevelopment and value enhancement, subject to the necessary consents.

Please note: As two of the three apartments are currently tenanted, access for viewings will be limited. We strongly recommend viewing the virtual tour to appreciate the accommodation available before arranging an internal inspection.

Please note we have not inspected this property.

Location

Close to the town centre and within walking distance of local amenities and the hospital. The closest train station is Northampton station, about 1.9 kilometres away.

Accommodation

The spacious ground floor one bedroom apartment comprises lounge, bedroom, kitchen, bathroom, converted cellar and useful store room, together with access to the rear garden. This apartment offers scope for further improvement and represents an opportunity to add value. The first floor two bedroom apartment comprises two bedrooms, a lounge, kitchen and three piece bathroom and is currently let on a company let, generating £900 PCM. The top floor one bedroom apartment comprises a lounge, kitchen, bedroom and three piece bathroom and is also let on a company let, currently achieving £775 PCM.

Tenure

NN65992 - Freehold

Council Tax

Flat 1 - A Flat 2 - A Flat 3 - A

EPC

Flat 1 - Rating D Flat 2 - Rating D Flat 3 - Rating D

Additional Information

For further information please contact our office directly on 0191 737 1154, or alternatively via email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.

Open map Street view

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

The legal pack is not yet available. The auction will not end until the legal pack has been made available here for at least 24 hours.

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