Lot TBC Auction

11 Tydfil Street, Barry, CF63 3PY View map

Guide Price £150,000 +

Snapshot

FOR SALE BY PUBLIC AUCTION – Mid-terrace investment property in good order with a current rental income of £21,600 per annum, representing an initial gross yield of 14.4%, in this popular area of


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    Description

      Mid-terrace investment property in reasonable condition in this popular area of Barry. The house itself has brick elevations beneath a pitched tiled roof covering. The property is in generally satisfactory order and benefits from uPVC windows throughout and gas central heating powered by a modern combination boiler (not tested). Outside there is an enclosed rear patio garden. The bedrooms also benefit from a CCTV system.

      11 Tydfil Street has been used by Vale of Glamorgan local authority as an HMO with each of the four bedrooms in the house being rented directly through the council most recently for £103.85 per week. We are informed that the council are happy to continue this arrangement with a new landlord, subject to approval but any interested parties are recommended to make their own enquiries in this regard.

      We have confirmed with the local authority housing support office that the income generated when full represents an income of £21,600 in rent, representing a gross yield of circa 13% at the auction reserve. We are informed there is also further income generated of circa £3120 via service charge collection direct from the residents.

      Tydfil street is situated just outside the centre of Barry and in close proximity to the local amenities in the area, including those on Holton road just around the corner.

    Accommodation

      GF - Entrance hall, Two Bedrooms, Shower room

      1F - Landing, Two bedrooms, Kitchen,

      OS - Rear enclosed garden.

    Tenure

      Informed Freehold - please refer to legal pack for verification of tenure.

    Viewing

      Viewing by appointment with Seel and Co (029) 2037 0117

    Additional Fees

      Buyers Premium – 1% with a minimum of £1,000 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid by the purchaser on completion.

      Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

    Further Information

      Auctioneers Office, Seel and Co (029) 2037 0117

    Auction Details

      FOR SALE BY PUBLIC AUCTION on 22 February 2022 online via the Seel and Co website. Bidding will commence from midday on Monday, 21 February and conclude in order from Lot 1 at 4:00 pm on Tuesday, 22 February 2022

    Need to know

    Please refer to legal pack and auction catalogue prior to bidding.

    Please be aware that you cannot bid without having a deposit.

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