investment in FY7

10x flats at Apex Buildings, North Albert Street, Kent Street, Fleetwood, Lancashire, FY7 6AJ

Current Bid
£330,000
Starting Bid £299,000
15 Bids
Sold

Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • 10x self-contained permanent flats
  • Generates £47,320pa when fully let
  • In good condition throughout
  • Close to town centre, amenities and seafront
  • Excellent investment opportunity
  • Freehold title

investment in FY7

FOR SALE BY AUCTION: terms and conditions apply.

We are pleased to offer to auction these 10 self-contained flats, set within a substantial corner property situated at the junction with Kent Street and North Albert Street in town centre of Fleetwood, Lancashire. The property comprises of 3x 2 bedroom flats, 4 x 1 bedroom flats and 3x studio flats. When the flats are fully let, the flats draw £47,320pa; please refer to the legal pack for further tenancy information.

Please note that we have not inspected this site.

Summary

  • Property Type: Investment
  • Tenure: Freehold
  • Parking: Allocated

Location

The subject property is well located along Kent Street, just a few hundred yards from Fleetwood Town centre, market and sea front. This property is located within easy reach of local amenities, transport links and schools. The subject property is located approximately 2 miles from Fleetwood town centre.

Accommodation

37 Kent Street - Ground floor studio flat with an open plan lounge with bedroom, there is also a fitted kitchen, a shower and toilet.

39 Kent Street - Ground floor studio flat with an open plan lounge with bedroom, there is also a fitted kitchen, a shower and toilet.

41 Kent Street - This flat has a lounge, fitted kitchen, bedroom, a shower and toilet.

39A Kent Street - Ground floor entrance leading to the first floor, on the first floor there is:
Flat 1 - studio flat with an open plan lounge/bedroom, a fitted kitchen, a shower and toilet.

Flat 2 - has a lounge, a fitted Kitchen, a bedroom, a shower and toilet.

Flat 3 - has a lounge, a fitted Kitchen, a bedroom, a shower and toilet.

Flat 4 - has a lounge, a fitted Kitchen, two bedrooms, a shower and toilet.

Flat 5 - has a lounge, a fitted Kitchen, two bedrooms, a shower and toilet.

35A North Albert Street - Ground floor flat with a lounge, a fitted Kitchen, two bedrooms, a shower and toilet.

35B North Albert Street - has a lounge, a fitted Kitchen, a bedroom, a shower and toilet.

Tenure

The addresses of the flats are 37, 39, 41 and 39a (flats 1-5) Kent Street, FY7 6AS, and 35a-35b North Albert Street, Fleetwood, Lancashire, FY7 6AJ.
Freehold. Title number LA623749.

Lease Details

We are advised that when let, the flats generate the below incomes:

37 Kent Street - £65pw
39 Kent Street - £65pw
41 Kent Street - £85pw
39a Kent Street:
Flat 1 - £65pw
Flat 2 - £85pw
Flat 3 - £85pw
Flat 4 - tenant moving in 23rd August at £110pw
Flat 5 - £115pw
35a North Albert Street - currently vacant but can achieve £125pw
35b North Albert Street - £85pw

This totals £39,520pa from 23rd August, and would achieve £46,020pa when the last flat is let.

Please refer to the legal pack for further information.

EPC

We currently await a copy of the Energy Performance Certificate.

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@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.

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 £5,000 + VAT (£6,000 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 auction@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.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  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 for 10 minutes. After 10 minutes without a bid, 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. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. 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: 
Up to £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 £1 million - £2,000 minimum bid 
£1 million+ -  £2,500 minimum bid 

Please note this bidding process applies specifically to online auctions. 

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