Flat 2, 21, 29, 31 and 40 Sumner House, St Thomas’s Road, Chorley, Manchester, PR7 1HP

Guide Price £350,000 * Plus 3% Buyers Premium plus VAT

For sale by unconditional online auction on the 29th of August 2024.

Registration is now open, bidding opens on 29th of August at 17:00 and ends on 29th of August at 19:00.

EXCELLENT BUY TO LET PROPERTY INVESTMENT OPPORTUNITY - FULLY TENANTED 5 X STUDIO APARTMENTS! These wonderful stylish studio apartment is situated in the heart of Chorley town centre. An investment deal not to be missed.

Description
These excellent studio apartments comprise of; entrance hallway leading to the open plan living area featuring sleeping area; fully-fitted high specification kitchen; storage cupboard and ensuite shower room. The apartments comes with allocated parking. The also have a state of the art smart heating system, as well as key-less electronic fob access from the apartment door.

Sumner House is an ideal investment for any landlord. The apartments have a central location in Chorley which is just a 5 minute walk to the train station, making it easier for those who commute to cities such as Manchester, Liverpool and London. Sumner House has a variety of bars, shops and restaurants right on its doorstep, making it attractive to young working professionals. This block also has the benefit of HG Smart Technology which allows you to keep a closer eye on energy prices and usage to allow better returns and lower outgoings.

This property is also a short distance from Preston which is the third largest city in the North West, and the largest in its county of Lancashire. It is only a 40 minute train journey from Manchester and a 50 minute train journey from Liverpool, whilst also having direct links to London and Glasgow. In addition, the city sits at the heart of a motorway network making it incredibly easy to access to the rest of the UK. With this in mind, and the fact that many university students decide to stay in the city after their graduation, the population of Preston is expected to grow exponentially in the coming years. In turn, house prices are predicted to continue to rise, following the growth of almost 20% in the last five years according to Zoopla figures.

Financial Breakdown


Rental income £2,975pcm / £35,700

Gross Rent: £34,380 pa
service Charge: £6,102
Ground rent: £350 per flat
Gross yield: 9.17%
Net yield: 7.07%

IMPORTANT NOTE TO PURCHASERS: These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Town and Country Property Auctions nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.


Leasehold

Legal Pack
A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction. To review the legal pack, click the Legal Documents button at the bottom of this advert or visit tcpa.co.uk.

Auction Information
To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa.co.uk.

UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 3%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.