Residential Portfolio in TS17

Mandale Road, Thornaby, Stockton-on-Tees, Durham, TS17 6AD

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Online auction

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

  • Student accommodation room
  • Classic en-suite room style
  • Potential income £5,460 to £5,820pa
  • Communal kitchen and gardens
  • Popular location
  • Long leasehold (250y from 2016)

Residential Portfolio in TS17

*For sale via secure sale online bidding: terms and conditions apply.*

We are pleased to offer to auction a student accommodation room, set within a substantial building block (3-5) of 22 rooms, situated in the popular area of Thornaby, Stockton-On-Tees.

We are advised that all rooms are easily rented out with no void periods due to the locality, with the building being directly next to Thornaby train station. The current rent achievable on this room is from 105pw-112pw (£455-485pcm). This 'classic' style room comprises of a bed and en-suite with a communal kitchen and gardens. We are advised the building benefits from electricity only (no gas).

Please note we have not inspected this property.

Summary

  • Property Type: Residential Portfolio
  • Parking: On Street

Location

The subject property is located along Mandale Road, in the popular area of Thornaby, Stockton-On-Tees, directly next to Thornaby train station.

Lease Details

The rent achievable PCM is £485. This room has 250 years left on the lease which commenced 30th September 2016. The ground rent is payable to Premier Ground Rents which the current vendor pays quarterly at an agreed amount of £145.62. On top of this the building has a service charge of £3030 for the year, the vendors owe £1,514.76 since 28th March.

Tenure

Long leasehold of 250 years commencing on 30 September 2016. Title number CE231784.

We are advised that the ground rent is payable to Premier Ground Rents, which the current vendor pays quarterly at an agreed amount of £145.62. The building also has a service charge of £3,030 for the year, and we are advised that the current owner owes £1,514.76 since 28th March 2023. Please refer to the legal pack for further information.

EPC

Available upon request (rating E).

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.

Floorplan

Floorplan

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.  

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 £750,001 - £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 auction@pattinson.co.uk

 

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