Residential Portfolio in SR2

Belle Vue Crescent, Sunderland, Tyne and Wear, SR2 7SH

Brochure

Tenure: Freehold

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Starting bid£265,000

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Key Information

EPC rating: C
Parking: Off Street

Property features

For Sale Via Auction
Excellent Investment Opportunity
Close to Local Amenities
Block of Four One Bedroom Apartments
Freehold

Residential Portfolio in SR2

RARE INVESTMENT OPPORTUNITY – FREEHOLD OF FOUR ONE-BEDROOM APARTMENTS

To Be Sold Via Online Auction, Fees Apply.

A rare opportunity to acquire the freehold of four self-contained one-bedroom apartments situated in the highly sought-after area of Belle Vue, Ashbrooke.

The property currently benefits from three of the four apartments being occupied by long-term tenants, generating a combined rental income of £1,270 per calendar month. When fully tenanted, the property has the potential to generate approximately £1,670 per calendar month. Following appropriate rental increases, there is further potential to achieve an income of around £2,000 per calendar month, making this an attractive proposition for both experienced and first-time property investors.

Each apartment benefits from gas central heating, while externally the property provides a communal yard with off-road parking to the rear, adding further appeal to prospective tenants.

Ideally positioned within close proximity to Sunderland City Centre, the property is well placed for access to a wide range of local amenities, shops, schools and leisure facilities, whilst also benefiting from excellent public transport and road links.

With multiple income-producing units, existing long-term tenants and clear potential to increase the rental yield, this is an excellent opportunity to acquire a freehold block of four apartments in a highly desirable residential location.

Early viewing is highly recommended to fully appreciate the investment potential on offer.

Location

Ideally positioned within close proximity to Sunderland City Centre, the property is well placed for access to a wide range of local amenities, shops, schools and leisure facilities, whilst also benefiting from excellent public transport and road links.

Tenure

Freehold. Title number DU46046.

EPC

Available upon request. (Rating for attic flat C) (Rating for basement flat D) (Rating for first floor flat D) (Rating for flat 2 C)

Council Tax

Council tax band for all flats is band A.

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial.ne@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Open map Street view

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%, subject to a minimum £4000 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 2.5%+ VAT to a minimum of £3,000 + VAT (£3,600 inc VAT) This does not form part of the purchase price.

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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