162 Newhampton Road West, Wolverhampton
162 Newhampton Road West, Wolverhampton, WV6 0RR
- 4
Key features
Guide Price: *
£215,000
Fees apply
Buyer's fee:3.6% (min. £6,000)
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Highest bid:
£201,000Bid history
4 bidsE
29/05/2024 15:02:08 - £201,000
P
29/05/2024 14:59:44 - £199,000
E
29/05/2024 14:58:29 - £197,000
See all 4 bids ▾
The lot is to be sold by online auction on Wednesday 29th May at 4:00pm
Rare investment opportunity with long-term development potential currently set up as 2 x 2 bedroom flats contained within this detached building with lapsed planning permission to erect 2 x 1 bedroom flats to the side of the existing property. The property is vacant and in need of updating but offers the buyer a range of options from straight residential investment to adaptation to HMO to increase rental returns or extend to side to create additional self-contained units/rooms (all subject to gaining the necessary consents and planning permissions).
It is our opinion that if the property was converted into a 5 bedroom HMO, the estimated rental income would be in the region of £450 per calendar month per room which equates to a gross income of £27,000 per annum.
Situated within a well-connected area, the property and adjacent land benefit from easy road access and proximity to public transportation options. Local amenities such as shops, schools, and parks are also conveniently within reach, enhancing its investment potential.
The property consists of:
Ground Floor Flat: Hallway, Kitchen, Living Room, 2 Large Bedrooms and Bathroom
First Floor Flat: Hallway, Kitchen, Living Room, 2 Large Bedrooms and Bathroom
The land to the side of the property was granted planning permission for the erection of 2 x 1 bedroom flats under Application No: 08/01352/FUL on 19th December 2008 by Wolverhampton City Council.
Newhampton Road West is located just over a mile to Wolverhampton City Centre including the Mander Centre, Molineux Football Stadium, the University of Wolverhampton and under a mile to Wolverhampton Hospital. There are also excellent road links via the A41, M6 and M54 nearby.
Viewings
For viewings, please contact our joint auctioneer's - IAD (Lee Merrick) - on 01902 291 724
Auctioneer's Note
Pre-auction offers will be considered for this property and if you would like more information about auction finance, please get in touch.
Auction Details
The lot is to be sold by online auction on Wednesday 29th May at 4:00pm. If you wish to submit an offer please contact us.
Please note that a Buyer’s Premium of 1.8% inc.VAT of the purchase price is to be paid by the successful Buyer (subject to a minimum fee of £3,000 inc.VAT).
Summary
- Auction end
- 29th May at 15:07
- Property type
- Residential
- Tenure
- Freehold
- Bedrooms
- 4
- Bathrooms
- 2
- Council tax band
- Ask Agent
Summary
- Auction end
- 29th May at 15:07
- Property type
- Residential
- Tenure
- Freehold
- Bedrooms
- 4
- Bathrooms
- 2
- Council tax band
- Ask Agent
This property is being sold by:
Rocket Auctions
02081642892
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Rocket Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Rocket Auctions. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
