Lot TBC Auction

Flats 4, 5, 10 and 11 Victoria Mews, Redcliffe Avenue, Cardiff, CF5 1AT View map

Guide Price £325,000 +

Snapshot

FOR SALE BY PUBLIC AUCTION – Four fully let apartments with allocated parking in this popular development close to Victoria Park, with an initial yield of 8.2%.


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    Description

      A block of 4 x One bedroom investment apartments each with their own allocated parking space and in generally good order, in this popular and private development. The apartments consist of two apartments to the ground floor with their own entrances from a communal space to the front of the property and two first floor apartments accessed via a communal entrance to the rear. The apartments form one section of the development and are above each other.

      Each apartment consists of a generous open-plan living and kitchen area, a double bedroom and en-suite bathroom and also benefit from uPVC windows and doors and central heating provided by modern combination boilers (not-tested). We are informed that the apartments are fully let at present on rolling Assured Shorthold Tenancies with a combined income of £26,7000 per annum (3x£550pcm + 1x£575pcm) representing an initial yield of 8.2%. (Please do examine the legal pack for verification of all tenancies)

      Victoria Mews was constructed in 2009 and consists of 14 apartments total, each with their own allocated parking space. The development is situated very close to Victoria park and just off Redcliffe Avenue and within easy reach of the shops and restaurants opposite the park on Cowbridge Road East.

    Accommodation

      GF - Flats 4 & 5 - Each flat - Living/Kitchen/Dining area, Double bedroom, Bathroom.

      1F - Flats 10 & 11 - Each flat - Living/Kitchen/Dining area, Double bedroom, Bathroom.

      OS - Communal yard, 4 X Allocated parking spaces.

    Tenure

      Informed Leasehold– please refer to legal pack for verification of tenure

    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 7 December 2021 online via the Seel and Co website. Bidding will commence from midday on Monday, 6 December and conclude in order from Lot 1 at 4:00 pm on Tuesday, 7 December 2021

    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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