Withdrawn as no one registered to bid.
Situation & Description
This larger than average, long leasehold studio flat is situated on the High Street in the popular Essex market town of Great Dunmow. There are a wide variety of local independent shops and restaurants, as well as a Co-Op and Tesco superstore nearby. Great Dunmow benefits from excellent transport links to Stansted Airport (5 miles), J8 of the M11 (6 miles) and the larger towns of Bishop's Stortford, Braintree and Chelmsford are all within close proximity.
The spacious first floor flat is in good condition throughout and extends to 408sqft (37.9sqm) and is let on a rolling Assured Shorthold Tenancy with the tenant paying £550 per calendar month which is the equivalent of £6,600 per annum or a gross yield of 6.6% if purchased at the guide price of £100,000. The current tenant has lived here for c.4 years.
The flat consists of: Kitchen/Breakfast Room, Shower Room and Large Studio Room. There is an allocated parking space to the rear.
The lease is 250 years from 21st June 2019 with a ground rent of £125 per annum.
Copies of the Assured Shorthold Tenancy Agreement is available from the Auctioneers and contained with the Legal Pack.
The lot is to be sold by online auction on Wednesday 4th March at 2:00pm
All interested parties who wish to bid, please contact My Auction on 0207 101 4868
Please note that a Buyer’s Premium of 1.2% inc.VAT of the purchase price is to be paid by the successful Buyer (subject to a minimum fee of £2,400 inc.VAT). The successful Buyer will also have to pay a 5% non-refundable Deposit on the fall of the digital hammer with the remaining 95% payable on completion (see Special Conditions of Sale for full details).
NB: Internal photos are from when the flat was vacant.
* Generally speaking Guide Prices 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. Virtually every 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.
This auction is now closed.
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