Available via Online Auction Guide Price £80,000 to £90,000

A fantastic investment opportunity to acquire tenanted two-bedroom apartment with 8%+ yield in Gorleston, Norfolk.

Long term and good tenant in residence, please make enquiry to auctioneer regarding future tenancy arrangements, with 105 years remaining on a 125 year lease.

Located on the second floor, this two-bedroom apartment includes plenty of parking for its residents, and enjoys mature, communal gardens.

On entry you will find a good size entrance hall with ample storage and access to all areas of the apartment.

To the right of the entrance, you enter to a generously sized fitted kitchen with a range of wall and base units with space for multiple appliances, including a cooker/oven, and space for a washing machine/dishwasher and fridge-freezer.

The living and dining room to the rear of the property is bright and spacious, with views over the communal gardens. The open plan encourages space for a dining area to complement the space.

There are two bedrooms, both of excellent proportion, and a bathroom consisting of panelled bath with shower above with basin, and a separate w/c.

The apartment is spacious, bright, and modern and is further enhanced by the excellent amount of storage, tasteful finishes, and location. It benefits from good sized communal gardens as well as a private brick shed and an intercom system providing security and easy access to guests.

There is a large carpark with plenty of parking for multiple vehicles.

Located within walking distance of regular bus routes, local shops including a butcher’s, bakery, greengrocers, and a Tesco express; as well as being within easy access of schools for all groups, a sixth form college and Gorleston High Street.

This property is ideal for a first time or seasoned landlord or for an investment buyer who can enjoy management services from our local partner estate agent.

UNCONDITIONAL LOT Buyers Premium applies on the fall of the hammer, the Purchaser shall pay: A 5% deposit is required by 12pm midday on the following working day after the auction. The auction conditions require a full legal completion to take place on 4th January 2023 (or if not 4th February 2023 by mutual agreement) or at a date to suit by mutual consent of both parties. 

This is to allow for current monthly rent payments to continue from the tenant and to be made without any interruption or change on the 5th monthly but for those rent payment to accordingly be received by either the vendor or the new purchaser on the respective 5th of the month based on the stage of completion/ownership of the property on either 5th January 2024 or 5th February 2024.

The winning buyer will be charged a sum of £5,000 online. From this, a buyers fee of £2,400 (including VAT) is retained by Country Property Auctions Limited as a contribution towards online platform costs and £2,600 is payable towards the purchase price. An auction fee of 2.4% (including VAT) less the £2,400 already paid (subject to a minimum of £6,000 (incl. VAT) in total will be payable by the winning buyer by 12pm the next working day after the auction, Country Property Auctions Limited  will invoice the buyer for this amount separately. Exchange will occur online, immediately when the timer reaches zero (provided the reserve has been met). The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. 

Purchaser to cover (be re-charged) the cost of the Leasehold Pack yet to be issued by GYBC at approx. cost of £250.00 inclusive.

A promissory agreement will be offered by the vendor that outstanding Service charges, Ground Rent and Block insurance for the current year 2023/24 and, up to the date of sale completion, will be retrospectively apportioned and refunded to the purchaser once the annual service charge invoice has been issued by GYBC for the service charge year 2023/34. Such invoice will be issued by GYBC post April 2024 (anticipated to be issued Sept 2024).