Lot 45
    Block of Apartments
    2A Castilian Street
    Northampton, Northamptonshire, NN1 1JX
    Sold Prior for £1,575,000
     
    Number 1
    A Freehold Semi Detached Building Arranged as 20 Studio Flats Fully Let Producing a Net Income of £120,000 Per Annum (8% Net Yield on the Guide Price)

    Description

    The property comprises a semi detached building arranged as 20 studio flats over lower ground, ground and two upper floors.

    Location

    The property is situated in Northampton town centre close to local shops, amenities and the Northampton University. Transport links are provided by Northampton rail station (0.8 miles).

    Accommodation

    Lower Ground Floor
    2 x Studio Flats

    Ground Floor
    6 x Studio Flats

    First Floor
    6 x Studio Flats

    Second Floor
    6 x Studio Flats

    Tenancy

    All 20 flats are let for a term of 2 years at a rent of £500 per month per room. The tenants pay all bills.

    Current Rent Reserved

    Current Rent Reserved £120,000 (Net).

    Note

    At the request by the buyer the sale can be by way of a company sale within an SPV - please refer to the legal pack for more details.

    Addendum

    Sold Prior
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
    Share this lot

    Additional Fees and Disclaimer

    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

    Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

    Contact Our Property Experts